PPF Vietnam Finance Company Limited (‘‘PPF Vietnam’’), the leading provider of consumer finance products in Vietnam, has risen refinancing totalling VND 270 billion (EUR 10.8 million) via the Revolving Loan Facility provided by Calyon.
PPF Vietnam succeeded to gain its first external funding raised locally in Vietnam since it started consumer finance operations under Home Credit brand in April 2008.
The Revolving Loan Facility was arranged with Calyon S.A in October 2009 and started to be drawn in December to respond to high season demand. The facility with maturity of 12 months provides PPF Vietnam with flexible utilization based on its needs to fund receivables from the POS loans. The Loan Facility also enables the company to better respond to quickly growing market with a broader range of consumer finance.
