Nam Long Bond

completed

   IFC is looking to provide a local VND currency bond (valued at US$73 million equivalent) to Nam Long Investment Corporation (“NLIC” or “Nam Long” or “the company”), a leading affordable housing developer in Vietnam listed on the Ho Chi Minh City (HCMC) Stock Exchange. IFC previously invested in the company (under project no. 32370) by subscribing to its shares in 2014, and the project was completed and closed in June 2017, with the company materially completing its environmental and social (E&S) obligations.  IFC’s proposed bond proceeds under this new project (#43451) will be utilized to finance development and construction of residential housing units of the company’s Waterpoint (“WP”) Project Phase 2 (“the project” or “WPP2”). The WP project is a residential township project located in Ben Luc District, Long An province in proximity to Tan An City at about 30km southwest of HCMC, and the site is surrounded by the Vam Co Dong river (Location coordinates: E106o27’20.16” N10o39’8.64”). WP phases 1-2 comprise a combined land footprint of 359.26 hectares, of which Phase 2 takes up 194.26 ha. The company is currently undertaking Phase 2 site clearance, drainage installation, and other earthworks. Once this is completed, the company will enter into a joint-venture partnership with another (to-be-identified) developer from the international residential development industry to co-develop, construct, and market the project’s housing units.