TTC AgriS successfully raised USD 80 million in foreign capital, bringing the total capital raised to USD 220 million from renowned financial institutions in less than a year.
On May 13, 2024, in Taiwan (China), Thanh Thanh Cong - Bien Hoa Joint Stock Company (TTC AgriS, HOSE: SBT) completed the signing of a loan agreement totaling USD 80 million with E.SUN Commercial Bank (E.SUN Bank, Taiwan), acting as the lead bank arranging and managing the syndicated loan. The syndicate included Hua Nan Commercial Bank, Mega ICBC Bank, Export-Import Bank of the Republic of China, Chang Hwa Commercial Bank, Land Bank of Taiwan, Shanghai Commercial & Savings Bank, and Taiwan Business Bank.
Mrs. Huynh Bich Ngoc, Chairwoman of the Board of Directors of TTC AgriS, and leaders from TTC Group, E.SUN Bank, and other international financial institutions attended the signing ceremony for the USD 80 million capital mobilization deal.
The signing ceremony saw the participation of representatives from TTC Group, TTC AgriS, E.SUN Bank, and Taiwanese financial institutions. This collaboration aims to support TTC AgriS in achieving its strategic goals for the 2021-2025 period and realizing its 2030 vision, focusing on tapping into potential markets and reaching a revenue target of VND 60,000 billion.
According to E.SUN Bank representatives, the capital disbursed by the bank and the participating banks exceeded 2.26 times the initially negotiated amount, demonstrating Taiwanese financial institutions' high confidence in TTC AgriS's business operations, growth prospects, reputable credit profile, and comprehensive corporate governance.
Mrs. Dang Huynh Uc My, Vice Chairwoman of the Board of Directors of TTC AgriS, who facilitated the connection with top financial institutions, emphasized that TTC AgriS's 'green' business strategy not only drives strong development but also creates sustainable competitive advantages. The successive successes in international capital mobilization, particularly the USD 80 million deal, attest to the effectiveness of TTC AgriS's business strategy. "TTC AgriS aims to create a common playing field for financial institutions and credit organizations to participate in the sustainable agricultural value chain, synergizing value and promoting investment in the circular economy," said Mrs. My.
E.SUN Bank, founded in 1992, is one of the leading banks in Taiwan, China. Besides its headquarters in Taipei and 139 branches in Taiwan, the bank has 31 business units in 10 countries, primarily in the Asia-Pacific financial centers. E.SUN Bank is known for pioneering ESG (Environmental, Social, and Governance) initiatives in Taiwan, being included in the Dow Jones Emerging Markets Sustainability Index for ten consecutive years and the Dow Jones World Sustainability Index eight times. The bank has consistently ranked in the top 5% of global financial institutions in this index, and in 2022 and 2023, it ranked in the top 1%, setting records in Taiwan's financial sector and across Asia.
As a multinational agricultural enterprise, TTC AgriS has always been at the forefront of upgrading and standardizing its corporate governance system based on sustainable development principles, integrating ESG standards into all aspects of management, production, and business activities, fully complying with stakeholders' obligations, and ensuring transparency. These efforts have enabled TTC AgriS to develop a unique competitive edge, meeting stringent comprehensive approval standards and attracting cooperation from numerous financial institutions.
Via CafeF