Vingroup Seeks $500 Million Private Credit for EV Charging Ports
A VinFast electric vehicle charges at the garage of the company's manufacturing complex in Hai Phong, Vietnam.
Photographer: Linh Pham/BloombergVietnamese conglomerate Vingroup JSC is seeking a $500 million private credit loan to expand its electric vehicle charging station network across the region, according to people familiar with the matter.
The group approached private credit funds in late September seeking participation, the people said, declining to be identified speaking on private matters. The interest rate for the deal, which is still in early stages, is expected to be around 10% or less, they added.