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BNP Paribas signs several commercial agreements with Vietnamese companies at the French Prime Minister's offices (Matignon)

  • 02.10.2007
During the visit of the Vietnamese Prime Minister Nguyen Tan Dung to his French counterpart François Fillon at Matignon yesterday, BNP Paribas signed several agreements with Vietnamese companies at Matignon and at the France-Vietnam Business Forum.

BNP Paribas and Petrovietnam have signed a memorandum of understanding to set up several structured and trade financing facilities. Also envisaged in the MoU, are several bond issues as well as closer cooperation in the field of derivatives: interest rate, forex and commodities. BNP Paribas will study with Petrovietnam additional financing facilities for the new refineries and oil field acquisitions abroad.

BNP Paribas and Vietnam Shipbuilding Industry Group (Vinashin) have signed a memorandum of understanding (an agreement) to increase their level of cooperation. The agreement covers potential new financings (includes the examination of financing arrangements) for external trade and shipping as well as bond issues for a total of USD $ 600 million. The agreement mentions the study for the financing the Hau Giang 3600 mW thermal power station. In Fixed Income, the agreement plans for a cooperation in interest rate and foreign exchange derivatives.

BNP Paribas and Vietnam Bank for Agricultural and Rural Development (AgriBank) signed a memorandum of understanding to review the setting up of trade lines, syndicated loans and bond issues for an aggregate amount of USD 600 million. In addition BNP Paribas will cooperate with Agri Bank with a view to obtain for AgriBank a rating with the international rating agencies. Various cooperation projects in the field of investment banking are also planned.

BNP Paribas, Empower Securities and Vietnam National Textile and Garment Group- “Vinatex” have signed a mandate for bond issues in Vietnamese Dong and in US dollars, in several tranches, for a total amount equivalent to USD 500 million.

BNP Paribas, Empower Securities et Tin Nghia Co., Ltd - Timexco have signed a mandate bond issues in several tranches in Vietnamese Dong and in US dollars, for a total amount of USD 250 million.

BNP Paribas has been present in Vietnam for many years, and in 1992 was one of the first foreign banks to obtain a full banking license. BNP Paribas offers its Corporate and Institutional clients in Vietnam a wide range of products and services in the fields of asset management and corporate and investment banking. The group is present in insurance, through its subsidiary Cardif, which signed a partnership at the beginning of the year with Vietcombank and Seabank for the distribution of life insurance, pension and savings products. BNP Paribas has also signed an agreement with a view to taking a stake in Orient Commercial Bank (OCB), the 9th largest private bank in the country.

About BNP Paribas
BNP Paribas (www.bnpparibas.com) is a European leader in international banking and financial services and one of the world's 5 strongest banks according to Standard & Poor's. The group is present in over 85 countries, with 155,000 employees, including 123,000 in Europe. The group holds key positions in three major business segments: Finance and Investment Banking, Asset Management & Services, and Retail Banking. With a strong European presence through all its businesses, France and Italy are its two domestic markets in retail banking. BNP Paribas also has a strong presence in the United States and solid positions in Asia and emerging market countries.
Press contact(s)
Press contact:
Helene Delannoy / 33 1 40 14 65 14 helene.delannoy [at] bnpparibas (dot) com