Baker McKenzie has acted for Military Commercial Joint Stock Bank (MB) in its first medium-term green syndicated loan contract valued at USD 500 million. This represents an important milestone in MB’s journey to support sustainable development projects. This fundraising is one of the largest MB has undertaken in recent years.
The syndicated loan was arranged by Australia and New Zealand Banking Group Limited (Singapore branch), Mashreqbank psc, Maybank Securities Pte. Ltd., Oversea-Chinese Banking Corporation Limited, and Standard Chartered Bank (Singapore) Limited, as arrangers and coordinators. ANZ (Singapore branch) served as the loan coordinator, while Standard Chartered Bank (Hong Kong) Limited acted as the loan administration agent.
The cross-border Baker McKenzie team was led by Partner Oanh Nguyen (Vietnam) and Principal Emmanuel Hadjidakis (Singapore), with support from Special Counsel Thai Ninh (Daniel) Ngo. Other key members include Local Principal Amanda Toh (Singapore) and Associates Nguyen Phuoc Anh Tram and Dang Hoang Nguyen (Vietnam) and Ingrid Au (Singapore).
Commenting on the deal, Oanh and Emmanuel said, “We are honoured to have assisted MB in its first green syndicated loan contract, the funds of which will be used to support eligible projects, underlining the bank’s commitment to its sustainability initiatives and Vietnam’s goal to transition to a low-emission economy. By leveraging on our deep local knowledge and coupled with our Singapore team’s English law expertise, we are proud to have supported MB in this landmark fundraising initiative.”
This transaction adds to Baker McKenzie’s growing portfolio of high-profile syndicated loan deals in the region, including the USD 1 billion sustainability-linked syndicated loan (SLL) facility for Aster Chemicals & Energy Pte. Ltd., USD 4.2 billion loan for Gulf Energy Development Public Company Limited and Intouch Holdings Public Company Limited and a syndicate of eight foreign lenders as well as the USD 4.5 billion SLL facility for Syngenta Group (HK) Holdings Co. Ltd.
Baker McKenzie was recognized as the “Syndicated Corporate Loan Law Firm of the Year” at this year’s Asia Pacific Loan Market Association’s (APLMA’s) Asia Pacific Syndicated Loan Market Awards. The Firm's Banking & Finance lawyers are ranked in more jurisdictions than any other firm by Chambers.