Credit Suisse loans up to $1 billion to Vinashin

Vietnam's largest shipbuilder gets more money from Credit Suisse to help fund its growing business.

Credit Suisse has signed a memorandum of understanding MOU to develop a financing programme of up to $1 billion for one of VietnamÆs largest state-owned enterprises, Vietnam Shipbuilding Industry Group Vinashin. The arrangement will also see Credit Suisse provide other financial services to the company.

As is typical with such deals involving state companies, the MOU was signed in the presence of Vietnamese prime minister Nguyen Tan Dung.

Vinashin controls over 70% of VietnamÆs shipbuilding industry and plays a...

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