News Image Citi has secured a mandate to arrange a term-loan facility of $200 million for the Vietnam National Coal Mineral Industries Group (Vinacomin) to finance the Lam Dong Bauxite Alumina Project in Vietnam.
The 13-year loan will be supported by Overseas United Loan Insurance from Nippon Export and Investment Insurance (NEXI), and guaranteed by Vietnam’s Ministry of Finance. The signing ceremony took place last month in Washington, D.C., in the presence of Prime Minister Nguyen Tan Dung. Mr Brett Krause, Managing Director and Citi Country Officer for Vietnam, said: “We are very honoured to have been selected by Vinacomin to bring this kind of innovative export agency financing solution to serve its business and development needs. Citi’s experience in arranging NEXI-backed transactions is exceptionally strong. For over a decade it has partnered NEXI in the successful arrangement and execution of 36 deals with a total value of nearly $6 billion.”
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