HSBC arranges non-binding loan guarantee of USD 79 million for GELEX

This transaction not only helps GELEX diversify its funding sources at competitive costs, but also expands its access to the world's leading financial institutions – without purchase commitments or commercial obligations to the sponsor.

HSBC and LBBW acted as lead arrangers in the transaction – both are major players in global trade and project finance. HSBC was also the sole ECA Coordinator, Loan and Guarantee Agent, and Account Opening Bank, while LBBW was the co-financing bank. SACE, the world’s largest export credit guarantee organization by 2024, with rigorous underwriting standards, underwrote up to 80% of the loan.

At the announcement ceremony held on the afternoon of May 29 in Hanoi, Mr. Tim Evans, CEO and Head of Corporate and Financial Institutions, HSBC Vietnam, said: "We are proud to accompany and support GELEX - a leading investment group in Vietnam to expand into the international market. This cooperation will help GELEX go further on the path to success, while reflecting HSBC's capacity and expertise in complex financial products, as well as our understanding of the domestic market. These factors contribute to HSBC's long-term commitment to bringing Vietnamese businesses access to international capital."

HSBC currently 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's largest banking and financial services organizations.

Mr. Tim Evans, CEO and Head of Corporate and Institutional Banking, HSBC Vietnam

The unsecured loan guarantee transaction provided by reputable banks, guaranteed by SACE, demonstrates confidence in Vietnam’s green growth potential. International financial institutions often only select enterprises with high creditworthiness, transparent governance systems and sustainable growth strategies. GELEX’s access to this source of capital demonstrates that the enterprise not only meets strict international standards, but also strives to position the image of Vietnamese enterprises in the global value chain.

Mr. Stefan Rethmeier, Director of Corporate Banking and Export Credit at LBBW Singapore, affirmed: "We see GELEX as a partner with a long-term vision and practical contribution to the sustainable development strategy in Vietnam. This transaction is not only a credit activity, but also a cooperation for a future of comprehensive growth and greening the economy ."

Unsecured loan transactions are a new financial model, usually only available to businesses with transparent operational capacity, strong financial potential and strategic influence in the region.

Using it for GELEX's strategic goals such as investment, expansion of core business segments, acceleration of digital governance... not only enhances GELEX's competitiveness but also aligns with the green growth and financial integration orientation pursued by the Vietnamese Government.

According to Mr. Nguyen Trong Hien, Chairman of the Board of Directors of GELEX Group, this is the initial capital mobilization in the international capital mobilization strategy to realize the long-term, effective and sustainable growth goal of GELEX Group.

Mr. Nguyen Trong Hien, Chairman of the Board of Directors of GELEX Group

“GELEX Group always aims for international standards in financial management and investment. This financial transaction not only adds important resources to GELEX’s strategic projects, but also demonstrates the trust of global financial institutions in the capacity and sustainable development choices of Vietnamese enterprises,” said Mr. Hien.

Currently, GELEX is known as a dynamic investment group in Vietnam. With a growth strategy through purposeful and effective M&A, applying good governance practices and modern production management, focusing on Capex investment and timely restructuring to improve the operational efficiency of member units and investment portfolio.

GELEX leaders said that the enterprise pursues a partner ecosystem strategy (major domestic and foreign partners) to participate in the global value chain; expand and upgrade product segments/industries with higher added value and proactively receive and grasp technology from international partners, promoting exports.

Source: https://vov.vn/doanh-nghiep/doanh-nghiep-24h/hsbc-thu-xep-bao-lanh-khoan-vay-khong-rang-buoc-tri-gia-79-trieu-usd-cho-gelex-post1203308.vov