In this transaction, Hong Kong and Shanghai Banking Corporation (HSBC) – Singapore and Vietnam branches, and Landesbank Baden-Württemberg (LBBW) acted as mandated lead arrangers, both renowned names in global trade and project financing.
Additionally, HSBC was the sole ECA loan coordinator, facility and guarantee agent, and account bank, while LBBW participated as a co-financer.
Also in attendance was SACE, the world’s third-largest export credit agency, known for its stringent underwriting standards, providing a guarantee for up to 80% of the loan facility.
Participants at the announcement ceremony of the completion of the $79 million unsecured loan guarantee transaction for GELEX
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At the ceremony held in Hanoi on May 29, Mr. Nguyen Trong Hien, Chairman of GELEX, shared that this fundraising initiative marks the beginning of their strategy to access international capital to support the long-term, efficient, and sustainable growth of the GELEX Group. The Chairman affirmed, “We always strive 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 confidence of global financial institutions in the capabilities and sustainable development choices of Vietnamese enterprises.”
 Mr. Nguyen Trong Hien, Chairman of GELEX
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This transaction enables GELEX to diversify its funding sources with competitive costs and provides access to leading global financial institutions without requiring purchase commitments or commercial ties with the financiers. This innovative financial model is typically reserved for enterprises with transparent operations, strong financial standing, and strategic influence in the region.
Currently, GELEX operates as an investment group in core sectors, including electrical equipment manufacturing and infrastructure. The loan will be utilized to support GELEX’s strategic objectives, such as investing in and expanding core business areas and accelerating digital transformation in governance. This not only enhances GELEX’s competitiveness but also aligns with the Vietnamese government’s green growth and financial integration agenda.
Mr. Tim Evans, CEO and Head of Corporate and Institutional Banking, HSBC Vietnam, commented, “We are proud to accompany and support GELEX, a leading Vietnamese investment group, in its international expansion. This collaboration will propel GELEX further toward success and showcases HSBC’s expertise in complex financial products and our deep understanding of the domestic market. These factors contribute to HSBC’s long-term commitment to connecting Vietnamese enterprises with international capital.”
Mr. Tim Evans representing HSBC Vietnam at the announcement ceremony on May 29
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The unsecured 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 not only meets stringent international standards but also reflects the enterprise’s efforts to position Vietnamese businesses within the global value chain.
Services
– 6:42 PM, May 29, 2025
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