Masan completes US$250-million investment deal with Bain Capital
Masan Group Corporation on April 23 announced that it has completed the mobilisation of US$250 billion from Bain Capital, a leading global private investment firm with assets worth US$180 billion under management.
Accordingly, with an exchange rate of VND25,356 per USD, Masan will receive VND6.22 trillion in net cash from this investment, helping significantly improve its balance sheet. At the same time, Masan will continue to actively seek alternative solutions to reduce leverage and reduce interest costs.
Over the past two years, Masan has successfully raised US$1.5 billion from the global capital market.
In the fourth quarter of 2023, Masan successfully hedged 100% of the risk of long-term debt in USD with reasonable terms, with US$950 million of loan principal converted to VND at the exchange rate of 23,937 and a fixed interest rate at 8.93% per year.
In addition, on April 20, Techcombank, Masan's affiliated company, approved a 15% cash dividend payment plan. Owning 19.9% economic interests in TCB, Masan is expected to receive more than VND1,000 billion in cash in the next six months, helping Masan facilitate the work of reducing financial leverage.
