After working with AFD, the delegation had a meeting with
BNP Paribas Bank. The main purpose of the delegation in this meeting is to negotiate
the interest rate margin of the project Vinh
Tan - Song
May - Tan Uyen
500kV transmission line with loan provided by BNP Paribas and Sumitomo Mitsui
Trust Bank under the guarantee of Japan Export Credit and Investment Insurance
Agency (NEXI).
From BNP Paribas, Mr. Yasser Henda - Global Director in
Export Credits; Mr. Akira Urakawa - Vice President for Export Financing and Mr.
Moritz de Chaisemartin - Officer in charged of Export Credits in Southeast Asia
at headquarters (Paris - France)
welcomed the delegation of EVNNPT.
Mr. Yasser Henda was very pleased to receive the delegation
at headquarters of BNP Paribas. He said, this trip marked an important
development in the cooperation between EVNNPT and PNB Paribas. He believed the
visit of Chairman Dang Phan Tuong and EVNNPT team in October 2014 at Tokyo
Branch of BNP Paribas Bank in Japan
made a good foundation for extension of the mutual cooperation of both sides.
On behalf of the delegation, Chairman Dang Phan Tuong
sincerely thanked Mr. Yasser Henda and PNB Paribas colleagues for the warm welcome.
The Chairman highly appreciated efforts of PNB Paribas in promoting the
cooperation between EVNNPT and BNP Paribas which is started by the loan
equivalent to USD 200 million for Vinh
Tan - Song
May - Tan Uyen
500kV transmission line. At the meeting, both sides discussed in details the interest
rate margin of the loan (equivalent 1.45%) at the offer of BNP Paribas Bank. Base
on the positive signs of the current international credit market, the Chairman
suggested BNP Paripas reducing the interest rate margin offered. Other relevant
issues were discussed openly and straightly by both sides. BNP Paribas agreed
to reduce 0.05% of the offered interest rate margin in the short-term.
Besides of that, the Chairman also stressed, in the current
context, the global financing market is more favorable, credit supply sources
are abundant with many modalities, so that borrowers have more partners and
opportunities to choose suitable and efficient lenders and lending modalities.
With aiming to a long-term and close cooperation with EVNNPT, BNP Paribas
should consider to reduce the interest rate margin of the loan to lower than
1.4%.
Mr. Yasser Henda noted advices of EVNNPT’s Chairman and
committed that in the near future, BNP Paribas will put more efforts to continue
reducing more the interest rate margin aiming to a successful transaction. It
is expected the loan negotiation will be in June 2015 and Loan Agreement will
be signed in the 3rd quarter of 2015. Mr. Henda also suggested EVNNPT closely
work with line ministries and the Government to complete the procedures from
Vietnam side, in details: EVN endorses the lending solution, Ministry of
Industry and trade (MOIT) approves the lending solution to facilitate next
steps, including: negotiate and sign the loan, appraise and issue the loan guarantee
by Ministry of Finance, register the loan to State Bank of Vietnam (SBV), issue
the legal opinion by Ministry of Justice (MOJ)…
Closing the meeting, the delegation and BNP Paribas noted
that in despite of some success and progress have been made, there are still many
difficulties and obstacles on the road ahead. Its is needed efforts and close cooperation
from both sides. The delegation and BNP Paribas committed to mobilize their own
resources to speed up the procedure processing in order to get the loan in the
3rd quarter of year 2015 as planned./.