Baker McKenzie assisted F88 Business Joint Stock Company ("F88") in successfully mobilizing a secured loan of USD 50 million from CLSA Capital Partners (HK) Limited through Lending Ark Asia Secured Private Debt Fund ("Lending Ark"), and an additional USD 10 million from the UK's Lendable.
F88 plans to use the new funds for network development and business scale growth.
F88 is a secured lending company in Vietnam that aims to bring affordable, transparent, and instant access to financial services for 50 million unbanked and underbanked individuals, and MSMEs that have limited access to credit. Lending Ark is Asia's leading company in the field of secured private credit. Lendable is a leading provider of financial loans to fintech companies in many frontiers and emerging markets.
The Baker McKenzie team was led by partner Oanh Nguyen and senior associate Thai Ninh (Daniel) Ngo, with support from trainee solicitor Nguyen Phuoc Anh Tram and law clerk Dang Hoang Nguyen.
Commenting on the deal, Oanh said, "This deal provides our client with the capital they need for future growth. Amidst the slowdown in corporate bond issuances in Vietnam, this transaction demonstrates the lenders' confidence in our client's future business growth. We could not be more pleased to be able to play our role in our client's growth story."