Hanoi: Vietnam’s Debt and Asset Trading Corporation (DATC) is in discussions with some banks to buy up to VND2trn ($94m) of debt owned by the Vietnam National Shipping Lines (Vinalines).
The banks include France’s Natixis, Malaysia's May Bank, Viet A Bank, as well as the Ocean Bank, and Bangkok Bank, according to the Vietnam Financial Times.
If the foreign banks sign up it will mark a big step in the resuscitation of the state run shipping line which had seen many banks steer clear of the firm as it racked up enormous debts five years ago.
Debt restructuring of Vinalines was completed last year with DATC handling most of the debt issues. [26/01/15]
