Hanoi, May 29, 2025\/strong> \u2013 GELEX Group today announces the completion of a loan facility guaranteed by the Italian Export Credit Agency (SACE), with a total value of USD 79 million. The agreement was signed between GELEX Group, GELEX Infrastructure JSC, GELEX Electric JSC, and a banking syndicate comprising the Hongkong and Shanghai Banking Corporation Limited (HSBC), through its branches in Singapore and Vietnam, and Landesbank Baden-W\u00fcrttemberg (LBBW).\/p>\n
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Affirming GELEX\u2019s Position in the Global Value Chain\/strong>\/p>\n
This transaction not only enables GELEX to diversify its sources of capital at competitive costs but also marks the group’s increasing access to leading international financial institutions \u2013 without any commercial purchase commitments or trade-related conditions. This is a new financing structure, typically available only to enterprises with transparent operations, strong financial capacity, and strategic influence in the region.\/p>\n
Mr. Nguy\u1ec5n Tr\u1ecdng Hi\u1ec1n, Chairman of GELEX, stated: \u201c\/em>We are committed to aligning with international standards in financial governance and investment. This transaction not only strengthens GELEX\u2019s capacity to deliver on its strategic projects but also reflects the trust that global financial institutions place in the capabilities and sustainable vision of Vietnamese enterprises. It marks the starting point in our broader strategy to mobilize international capital in pursuit of GELEX\u2019s long-term, efficient, and sustainable growth goals.\u201d\/p>\n
Pioneering Role of International Partners\/strong>\/p>\n
In this transaction, HSBC and LBBW acted as Lead Arrangers \u2013 both being prominent names in global trade and project finance. HSBC also served as the sole ECA Coordinating Bank, Facility Agent, Security Agent, and Account Bank, while LBBW participated as Co-Lender. The transaction is guaranteed by SACE \u2013 recognized as the world\u2019s largest export credit agency in 2024, known for its rigorous due diligence process and guarantee coverage of up to 80% of the loan value.\/p>\n
Mr. Tim Evans, CEO and Head of Banking, HSBC Vietnam, shared:\u201cWe are proud to accompany and support GELEX \u2013 a leading investment group in Vietnam \u2013 as they look to international markets. This will enable GELEX to achieve even greater success and reflects HSBC\u2019s structuring capabilities and expertise, along with our deep understanding of the local market, which underpins our long-term commitment to providing Vietnamese businesses with international capital\u201d.\/p>\n
Advancing Financial Integration and Sustainable Development\/strong>\/p>\n
The proceeds from the loan will be used for GELEX\u2019s strategic objectives, including investment, core business expansion, and accelerating digital transformation in governance. This move not only enhances GELEX\u2019s competitiveness but also aligns with Vietnam\u2019s national goals for green growth and financial integration with global markets.\/p>\n
The SACE-guaranteed facility, arranged by two reputable banks, demonstrates international confidence in Vietnam\u2019s green growth potential. Institutions of this caliber typically partner only with businesses that meet high standards of creditworthiness, governance, and long-term strategy.\/p>\n
GELEX\u2019s successful access to this financing affirms that the company not only meets stringent international standards but also plays an active role in positioning Vietnamese enterprises within the global value chain and advancing the nation\u2019s sustainable development goals.\/p>\n
Mr. Stefan Rethmeier, Head of Corporates and Export Finance, LBBW Singapore, stated: \u201cWe see GELEX as a long-term partner contributing meaningfully to Vietnam\u2019s sustainable development strategy. This transaction is not just about a financing transaction \u2013 it\u2019s a partnership for a future of inclusive growth and green transformation.\u201d\/p>\n
| About GELEX\/strong>\/span>\/p>\n Originally established as an electrical equipment manufacturer, GELEX has transformed into an investment group with two core sectors: Electrical Equipment and Infrastructure. Its strategy focuses on targeted M&A, adoption of best governance and modern production practices, focused Capex investments, and timely restructuring to enhance subsidiary and portfolio performance. GELEX is currently pursuing a partner ecosystem strategy (both domestic and international) to participate in the global value chain, shift toward higher value-added segments, and proactively acquire and apply technology from international partners to boost exports.\/span>\/p>\n About the Hongkong and Shanghai Banking Corporation Limited\/strong>\/span>\/p>\n The Hongkong and Shanghai Banking Corporation Limited is the founding member of the HSBC Group. HSBC serves customers worldwide through offices in 58 countries and territories. With assets of US$3,054 billion as of March 31, 2025, HSBC is one of the world\u2019s largest banking and financial services organizations.\/span>\/p>\n About Landesbank Baden-W\u00fcrttemberg (LBBW)\/span>\/h3>\n |