Latest news with #Vinschool
The Star
5 days ago
- Business
- The Star
Vingroup seeks loan to buy KKR's Vinschool stake
If the deal materialises, it will help KKR exit its investment in Vinschool. — Bloomberg Hanoi: Vietnamese conglomerate Vingroup JSC is seeking an around US$300mil private credit loan to purchase KKR & Co's stake of about 38% in its education subsidiary Vinschool, according to people familiar with the matter. UBS is approaching private credit funds to garner interest for the proposed loan, the people said, who asked not to be identified discussing private matters. If the deal materialises, it will help KKR exit its investment in Vinschool. KKR, UBS and Vingroup declined to comment. The financing adds to Asia's growing private credit space, a US$1.7 trillion global asset class that's luring more players. The education sector has been one of the beneficiaries. XCL Education, a school owner and operator backed by private equity firm TPG, recently obtained a US$400mil private credit loan to refinance its existing debt, Bloomberg News reported. In 2023, HPS Investment Partners, KKR & Co and Nomura jointly provided a S$265mil uni-tranche facility to The Learning Lab also for the same purpose. Vingroup has tapped the private-debt markets before. In 2023, its real estate arm Vinhomes JSC obtained a US$250mil private loan from a group of lenders including SeaTown Holdings International, Deutsche Bank, Tahan Capital and Varde Partners. Vinschool is a kindergarten to 12th grade education system, operating under and funded by parent company, Vingroup. — Bloomberg
Business Times
5 days ago
- Business
- Business Times
Vingroup seeks private loan to buy KKR's stake in Vinschool
[SINGAPORE] Vietnamese conglomerate Vingroup is seeking a around US$300 million private credit loan to purchase KKR's stake of about 38 per cent in its education subsidiary Vinschool, according to sources familiar with the matter. UBS is approaching private credit funds to garner interest for the proposed loan, the sources said, who asked not to be identified discussing private matters. If the deal materialises, it will help KKR exit its investment in Vinschool. KKR, UBS and Vingroup declined to comment. The financing adds to Asia's growing private credit space, a US$1.7 trillion global asset class that's luring more players. The education sector has been one of the beneficiaries. XCL Education, a school owner and operator backed by private equity firm TPG, recently obtained a US$400 million private credit loan to refinance its existing debt, Bloomberg News reported. In 2023, HPS Investment Partners, KKR & Co and Nomura jointly provided a S$265 million unitranche facility to The Learning Lab also for the same purpose. Vingroup has tapped the private debt markets before. In 2023, its real estate arm Vinhomes JSC obtained a US$250 million private loan from a group of lenders including SeaTown Holdings International, Deutsche Bank, Tahan Capital and Varde Partners, Bloomberg News reported. Vinschool is a K-12 education system, operating under and funded by its parent company, Vingroup. Founded in 2013, it has 54 campuses operating in five provinces in Vietnam, educating around 49,000 students, according to a report on its website. BLOOMBERG
Bloomberg
5 days ago
- Business
- Bloomberg
Vingroup Seeks Private Loan to Buy KKR's Stake in Vinschool
Vietnamese conglomerate Vingroup JSC is seeking an around $300 million private credit loan to purchase KKR & Co. 's stake of about 38% in its education subsidiary Vinschool, according to people familiar with the matter. UBS is approaching private credit funds to garner interest for the proposed loan, the people said, who asked not to be identified discussing private matters. If the deal materializes, it will help KKR exit its investment in Vinschool.
