This is the second time HSBC has successfully arranged a non-binding loan guarantee transaction from SACE for a Vietnamese enterprise, since the deal with Nutifood in 2021.

The loan has a term of 5 years, with a total value of approximately USD 40 million, and is provided with a comprehensive financial guarantee of up to 80% by SACE.

 The loan is jointly financed by HSBC Singapore and Landesbank Baden-Württemberg (LBBW), acting as Mandated Lead Arrangers (MLA).  HSBC Singapore and HSBC Vietnam serve as the Sole ECA Coordinating Bank, Facility and Security Agent, and Account Bank.

GELEX Infrastructure, a subsidiary of GELEX Group, plays a key role in the group’s investment and development activities across multiple sectors, including electrical equipment, industrial parks, real estate, energy, and clean water. The company oversees several major subsidiaries, such as Viglacera Corporation, Song Da Water Investment JSC, and Long Son Petrochemical Industrial Park Investment JSC,etc.

According to Mr. Le Tuan Anh, Deputy CEO of GELEX Group and Board Member of GELEX Infrastructure,  the loan will provide the company with long-term foreign currency financing, enabling continued investment in its core business areas and supporting long-term growth strategies.

GELEX leadership emphasized their commitment to effectively utilizing the capital to drive sustainable development  while expressing optimism that the deal would pave the way for future collaboration between HSBC and GELEX on upcoming projects.

Launched in 2017, SACE’s Push Facility program is designed to strengthen trade ties between Vietnam and Italy by connecting buyers and suppliers in both markets.  The program offers financial guarantees for long-term loans without restrictions on the type of goods and does not require borrowers to have pre-existing contracts with Italian suppliers.

Participating companies gain easier access to funding with SACE-backed guarantees and can benefit from economic incentives upon reaching predetermined procurement targets within a set timeframe.  Additionally, SACE facilitates business-matching initiatives to help buyers and suppliers establish new partnerships.

This is the second time HSBC has successfully arranged a non-binding loan guarantee transaction from SACE for a Vietnamese enterprise, since the deal with Nutifood in 2021. “This partnership underscores HSBC’s commitment to supporting Vietnamese businesses in expanding their global footprint,”  said Tim Evans, CEO and Head of Banking at HSBC Vietnam.