[Deal Announcement]
LNT & PARTNERS ADVISES LENDERS ON THE LARGEST PPP TRANSPORT FINANCING IN VIETNAM
LNT & Partners has advised Vietcombank, as lead arranger, together with VietinBank, BIDV, Agribank, TPBank and VPBank on the VND 27,094 billion (approximately USD 1.04 billion) syndicated credit facility financing the expansion of the Ho Chi Minh City – Trung Luong – My Thuan Expressway. It is the largest credit financing extended to a transport project under the public-private partnership (PPP) model in Vietnam to date.
The facility agreement was signed in Hanoi on 16 July 2026 between the six-bank syndicate and the project enterprise, Saigon – My Thuan BOT Expressway Company Limited.
The project carries a total investment of VND 36,125 billion and is implemented on a PPP basis without recourse to the state budget. The expansion responds to acute congestion on the corridor linking Ho Chi Minh City to the Mekong Delta, where traffic on the Trung Luong – My Thuan section has at times exceeded 60,000 vehicles a day, well above its original design capacity.
Ngo Thanh Hai, Partner at LNT & Partners, said: "A financing of this size required an unusually rigorous appraisal — of the financial model, of the security package over toll revenue, and of how risk is allocated between the project enterprise and the competent State authority. The participation of six banks reflects the confidence that came out of that process."
The LNT & Partners team was led by Partners Ngo Thanh Hai and Le Net, supported by Senior Associate Nguyen Dieu Quynh and Associate Le Anh Thu.
Read more about the project here:
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