A ceremony marking the completion of a $79 million SACE-backed financing deal for GELEX. — Photo courtesy of GELEX

HÀ NỘI — GELEX Group on Thursday announced the successful completion of a US$79 million international loan facility guaranteed by Italy’s export credit agency SACE.

The agreement was signed between GELEX Group and its subsidiaries — GELEX Infrastructure JSC and GELEX Electric JSC — and a banking syndicate comprising HSBC and Landesbank Baden-Württemberg (LBBW).

The facility is structured with no commercial purchase commitments or trade-related conditions, offering GELEX access to competitively priced international capital. HSBC participated through its branches in Singapore and Việt Nam, while LBBW contributed as a co-lender.

The deal marks a significant step for GELEX in deepening its integration into global value chains. As one of the few Vietnamese enterprises to successfully secure such financing, GELEX is reinforcing its reputation for transparency, financial strength and strategic vision.

“This transaction affirms our commitment to aligning with international best practices in financial governance and investment,” said GELEX Chairman Nguyễn Trọng Hiền. “It strengthens our capacity to implement strategic projects and reflects the growing confidence that global financial institutions place in Vietnamese enterprises. This is a pivotal step in our broader strategy to mobilise international capital in pursuit of long-term, sustainable growth.”

HSBC and LBBW acted as lead arrangers for the transaction. HSBC also served as the sole ECA Coordinating Bank, Facility Agent, Security Agent and Account Bank. The deal is backed by SACE, which was named the world’s leading export credit agency in 2024 and is known for its stringent due diligence and guaranteed coverage of up to 80 per cent of loan value.

“We are proud to support GELEX, a leading investment group in Việt Nam, as it looks to expand globally,” said Tim Evans, CEO and Head of Banking at HSBC Việt Nam. “This deal highlights HSBC’s structuring capabilities and local market insight, and it reaffirms our commitment to connecting Vietnamese businesses with international capital.”

Stefan Rethmeier, Head of Corporates and Export Finance at LBBW Singapore, added: “We see GELEX as a long-term partner contributing meaningfully to Việt Nam’s sustainable development. This transaction goes beyond financing — it is a strategic partnership aimed at inclusive growth and green transformation.”

Proceeds from the facility will be directed toward GELEX’s strategic priorities, including core business expansion, governance digitalisation and investment in infrastructure. The transaction also aligns with Việt Nam’s broader objectives on financial integration and sustainable development.

According to GELEX, the successful execution of this facility underscores not only its compliance with international credit and governance standards, but also its role in positioning Vietnamese enterprises within global value chains and supporting national green growth targets.

GELEX’s strategy centres on targeted M&A, adoption of global governance standards, focused capital expenditure and restructuring to enhance operational efficiency. The group is actively building a domestic and international partner ecosystem to participate in higher value-added segments and boost exports through technological collaboration. — BIZHUB/VNS