Vingroup Seeks Private Loan to Buy KKR’s Stake in Vinschool

Vietnamese conglomerate Vingroup JSC is seeking an around $300 million private credit loan to purchase KKR & Co.’s stake of about 38% in its education subsidiary Vinschool, according to people familiar with the matter.

UBS is approaching private credit funds to garner interest for the proposed loan, the people said, who asked not to be identified discussing private matters. If the deal materializes, it will help KKR exit its investment in Vinschool.

KKR, UBS and Vingroup declined to comment.

The financing adds to Asia’s growing private credit space, a $1.7 trillion global asset class that’s luring more players. ...