April 17, 2018 / 3:01 AM / 4 days ago

Vingroup units raise $1.3 bln from Singapore's GIC through stake sale, loan

April 17 (Reuters) - Two units of Vietnamese property developer Vingroup have raised $1.3 billion by selling a share of the units to Singapore’s Government Investment Corp and through a loan from GIC, Vingroup said Tuesday in a statement.

One of the units is high-end property developer Vinhomes, Vingroup said, without naming the other unit.

It said the money raised would be used to fund the units’ projects, adding that Credit Suisse (Singapore) Limited arranged the deal.

Reporting by Khanh Vu; Editing by Christian Schmollinger

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