USD 150-MILLION CREDIT AGREEMENT BETWEEN SEABANK AND PVEP

23/12/2013

On 23/12/2013, the signing Ceremony of credit agreement worth USD 150 million between Southeast Asia Commercial Joint Stock Bank (SeABank), Operation Center of Joint Stock Commercial Bank for Foreign Trade of Vietnam (Vietcombank) and PetroVietnam Exploration and Production Corporation (PVEP) financing for oil and gas exploration Project at block 10&11-1 offshore Vietnam invested by PVEP took place at the head office of PetroVietnam (PVN) at No.

18 Lang Ha, Hanoi. The USD 150-million agreement is led by Vietcombank Operation Center with Vietcombank’s financing ratio of 83.5% (equal to USD 125.25 million) and SeABank’s financing ratio of 16.5% (equal to USD 24.75 million).

The Ceremony officially marks a significant milestone in the long-term and comprehensive cooperation between Vietcombank, SeABank and PVEP, paving the way for new cooperation opportunities in order to best promote advantages, utilize potentials of the parties, therefore, enhancing the competitiveness, efficiency and bringing mutual benefits to Vietcombank, SeABank and PVEP, enterprise community in general and contributing to the development of the nation.

Becoming aware of the role of key projects of PVN in particular and the nation in general, Vietcombank and SeABank along with other commercial banks, in recent years, have succeeded in financing key oil and gas projects thanks to the direction of the Government, cooperation of Ministries, agencies as well as support from the State Bank of Vietnam.

SeABank is among the joint stock commercial banks which have most stable and sustainable development in its history of nearly 20 years. SeABank is under the orientation of professional retail banking model towards customers’ benefits by providing diverse, modern and useful products for personal and enterprise customers. Currently, SeABank is in Top 10 commercial banks in Vietnam. In addition to the cooperation with PVEP, SeABank also engages in cooperation with and provides numerous products & services for PVN and its member companies. Furthermore, SeABank is the only bank in Vietnam to be honored Bank of The Year Vietnam 2013 by The Banker - an international magazine of the Financial Time Group.

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USD 150-MILLION CREDIT AGREEMENT BETWEEN SEABANK AND PVEP