TCBS expands global funding, secures a syndicated loan of about $488 million.

Technical and Commercial Bank Securities Joint Stock Company (TCBS, HOSE: TCX) has completed the signing process and is ready to disburse a syndicated loan worth 488 million USD (about 12,800 billion VND). The deal is described as the largest syndicated loan ever recorded for a Vietnamese securities company and continues TCBS’s streak of setting new records in accessing international capital markets for the third consecutive year.

Loan structure and participating institutions

The 2026 syndicated loan was arranged by a group of international financial institutions, including Cathay United Bank, CTBC Bank, Landesbank Baden-Württemberg, Mizuho Bank, and Taipei Fubon Commercial Bank. The lender structure is described as diverse, with participation from many international institutions that had not previously provided credit guarantees for a Vietnamese securities company.

Funds were arranged from 26 institutions across multiple regions, including China, Korea, Germany, Hong Kong, Singapore, the Middle East, India, Malaysia, and Taiwan, reflecting TCBS’s credit reach beyond the region and into capital markets with stringent underwriting standards.

Previous international funding milestone

In February, TCBS also signed a long-term convertible loan with DEG (the development finance institution under KfW, Credit for Reconstruction), with a total value of up to 50 million USD. This transaction was described as a pioneering step that helped unlock European capital flows into Vietnam’s securities finance sector.

Planned use of proceeds

When disbursed, the 488 million USD syndicated loan is expected to be used to strengthen TCBS’s margin lending capacity, maintain its leading position in the market, and boost investment activity and market creation for financial products. The company also expects that strengthening liquidity will help it respond flexibly to market fluctuations.

Company statement

Commenting on the deal, Mr. Nguyen Tuan Cuong, Deputy General Director of TCBS, said: “Completing the signing of the 488 million USD syndicated loan is not only a milestone in fundraising scale, but also recognition by international financial institutions of TCBS’s financial platform, governance capabilities, and long-term development strategy. Over the years, TCBS has been known as a pioneer in applying technology to financial operations, developing a diversified product ecosystem, and building a WealthTech model in Vietnam. This syndicated loan further reinforces TCBS’s position as a leading financial institution driving trends, not only domestically but also gradually affirming its capabilities on international markets.”

Market context and potential impact

The deal is also positioned as setting new standards for the ability of Vietnamese securities firms to mobilize international capital. In the context of Vietnam being upgraded to emerging market status by FTSE Russell from September 2026, the move by a domestic securities firm to proactively access and finalize such large-scale international funding is viewed as a forward-looking step.

TCBS said the transaction is expected to significantly enhance its financial strength and liquidity, providing a foundation to harness foreign capital flows as the market enters a new growth cycle and to continue affirming its role in linking and guiding capital flows in Vietnam’s market.