“HSBC Successfully Arranges $79 Million Uncommitted Loan Facility for GELEX”

This transaction involved HSBC and LBBW as arranging banks, both renowned names in global trade and project finance. HSBC also acted as the sole ECA loan coordinator, loan and guarantee agent, and account bank, while LBBW was the co-financing bank. Joining them was SACE, the world’s largest export credit agency in 2024, with its stringent underwriting standards, providing an 80% guarantee on the loan.

At the ceremony held in Hanoi on May 29, Mr. Tim Evans, CEO and Head of Corporate and Institutional Banking, HSBC Vietnam, shared, “We are proud to partner with and support GELEX, a leading Vietnamese investment group, in its international expansion. This collaboration will propel GELEX further on its path to success and reflects HSBC’s expertise in complex financial products and our deep understanding of the local market. These factors contribute to our long-term commitment to connecting Vietnamese enterprises with international capital.”

The non-binding loan guarantee provided by reputable banks and backed by SACE underscores the confidence in Vietnam’s green growth potential. International financial institutions typically select enterprises with high creditworthiness, transparent governance, and sustainable growth strategies. GELEX’s access to this capital demonstrates the company’s ability to meet stringent international standards and its efforts to position Vietnamese enterprises in the global value chain.

Mr. Stefan Rethmeier, Head of Corporate and Export Finance, LBBW Singapore, affirmed, “We see GELEX as a partner with a long-term vision and a practical contribution to the sustainable development strategy in Vietnam. This transaction is not just a credit activity but also a collaboration for a future of comprehensive growth and a greener economy.”

The non-binding loan transaction is a new financial model typically reserved for enterprises with transparent operations, strong financial capabilities, and strategic influence in the region.

GELEX plans to utilize these funds for strategic objectives such as investing in and expanding its core businesses, accelerating digital governance, and more. This will not only enhance GELEX’s competitiveness but also align with the Vietnamese government’s orientation towards green growth and financial integration.

According to Mr. Nguyen Trong Hien, Chairman of GELEX, this capital raise marks the beginning of the group’s international capital mobilization strategy to achieve long-term, efficient, and sustainable growth.

“GELEX always strives for international standards in financial management and investment. This financial transaction not only provides crucial resources for GELEX’s strategic projects but also demonstrates the trust of global financial institutions in the capabilities and sustainable development choices of Vietnamese enterprises,” said Mr. Hien.

GELEX is recognized as a dynamic investment group in Vietnam. With a growth strategy centered on targeted and efficient M&A, the application of good governance practices and modern production management, focused Capex investment, and timely restructuring to enhance the performance of its member units and investment portfolio, GELEX is well-positioned for success.

GELEX’s leadership shared that the group pursues a partner ecosystem strategy, collaborating with major domestic and foreign partners to integrate into the global value chain. They aim to expand and upgrade their product/industry segments to higher value-added areas, proactively receive and adopt technology from international partners, and boost exports.