SeaTown, Oman fund back Vinpearl with $255 million private credit deal
What's new: The financing uses convertible preference shares, giving investors dividends now and a path to equity later.
SeaTown Holdings, a Temasek unit, and Oman-linked investors provided $255 million in private credit financing to Vinpearl, the hospitality arm of Vietnam’s Vingroup. The funding also includes Oman Investment Authority and Vietnam Oman Investment, a joint venture between the OIA and Vietnam’s State Capital Investment Corporation. Vinpearl said the proceeds will support its long-term expansion plans. The deal was structured through convertible dividend preference shares, a hybrid instrument that pays preferred dividends and can later be converted into equity. Jefferies Financial Group advised Vinpearl on the transaction.