Hanoi, May 29, 2025 – GELEX Group today announces the completion of a loan facility guaranteed by the Italian Export Credit Agency (SACE), with a total value of USD 79 million. The agreement was signed between GELEX Group, GELEX Infrastructure JSC, GELEX Electric JSC, and a banking syndicate comprising the Hongkong and Shanghai Banking Corporation Limited (HSBC), through its branches in Singapore and Vietnam, and Landesbank Baden-Württemberg (LBBW).

Affirming GELEX’s Position in the Global Value Chain

This transaction not only enables GELEX to diversify its sources of capital at competitive costs but also marks the group’s increasing access to leading international financial institutions – without any commercial purchase commitments or trade-related conditions. This is a new financing structure, typically available only to enterprises with transparent operations, strong financial capacity, and strategic influence in the region.

Mr. Nguyễn Trọng Hiền, Chairman of GELEX.

Mr. Nguyễn Trọng Hiền, Chairman of GELEX, stated: “We are committed to aligning with international standards in financial governance and investment. This transaction not only strengthens GELEX’s capacity to deliver on its strategic projects but also reflects the trust that global financial institutions place in the capabilities and sustainable vision of Vietnamese enterprises. It marks the starting point in our broader strategy to mobilize international capital in pursuit of GELEX’s long-term, efficient, and sustainable growth goals.”

Pioneering Role of International Partners

In this transaction, HSBC and LBBW acted as Lead Arrangers – both being prominent names in global trade and project finance. HSBC also served as the sole ECA Coordinating Bank, Facility Agent, Security Agent, and Account Bank, while LBBW participated as Co-Lender. The transaction is guaranteed by SACE – recognized as the world’s largest export credit agency in 2024, known for its rigorous due diligence process and guarantee coverage of up to 80% of the loan value.

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

Mr. Tim Evans, CEO and Head of Banking, HSBC Vietnam, shared:“We are proud to accompany and support GELEX – a leading investment group in Vietnam – as they look to international markets. This will enable GELEX to achieve even greater success and reflects HSBC’s structuring capabilities and expertise, along with our deep understanding of the local market, which underpins our long-term commitment to providing Vietnamese businesses with international capital”.

Advancing Financial Integration and Sustainable Development

The proceeds from the loan will be used for GELEX’s strategic objectives, including investment, core business expansion, and accelerating digital transformation in governance. This move not only enhances GELEX’s competitiveness but also aligns with Vietnam’s national goals for green growth and financial integration with global markets.

The SACE-guaranteed facility, arranged by two reputable banks, demonstrates international confidence in Vietnam’s green growth potential. Institutions of this caliber typically partner only with businesses that meet high standards of creditworthiness, governance, and long-term strategy.

GELEX’s successful access to this financing affirms that the company not only meets stringent international standards but also plays an active role in positioning Vietnamese enterprises within the global value chain and advancing the nation’s sustainable development goals.

Mr. Stefan Rethmeier, Head of Corporates and Export Finance, LBBW Singapore.

Mr. Stefan Rethmeier, Head of Corporates and Export Finance, LBBW Singapore, stated: “We see GELEX as a long-term partner contributing meaningfully to Vietnam’s sustainable development strategy. This transaction is not just about a financing transaction – it’s a partnership for a future of inclusive growth and green transformation.”

About GELEX

Originally established as an electrical equipment manufacturer, GELEX has transformed into an investment group with two core sectors: Electrical Equipment and Infrastructure. Its strategy focuses on targeted M&A, adoption of best governance and modern production practices, focused Capex investments, and timely restructuring to enhance subsidiary and portfolio performance. GELEX is currently pursuing a partner ecosystem strategy (both domestic and international) to participate in the global value chain, shift toward higher value-added segments, and proactively acquire and apply technology from international partners to boost exports.

About the Hongkong and Shanghai Banking Corporation Limited

The Hongkong and Shanghai Banking Corporation Limited is the founding member of the HSBC Group. HSBC 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.

About Landesbank Baden-Württemberg (LBBW)

LBBW is the largest bank in southwest Germany and one of the largest commercial banks nationwide. As a universal bank with deep regional roots, strong client relationships, international expertise and our worldwide network of Branches, Representative Offices and German Centres, LBBW is the ideal partner for small and medium-sized enterprises as well as multinational corporations in shaping their future.

The bank’s range of services comprises of short, medium and long-term financing, customized financing solutions such as structured export and project finance, syndicated loans as well as international trade finance and payments, currency and interest rate risk management and capital markets advisory.

LBBW in Singapore as Hub for Asia/Pacific, together with our Branches in Seoul and Shanghai as well as our Representative Offices in Mumbai, Beijing, Hanoi and Jakarta assists our corporate and institutional clients in exploring Asia’s long-term growth potential.

About SACE (SACE (Servizi Assicurativi del Commercio Estero)

SACE is Italy’s national export credit agency, operating under the Italian Ministry of Economy and Finance. With over 45 years of experience and operations in more than 70 countries, SACE supports Italian companies and their international partners through credit guarantees, risk insurance, and export financing. In 2024, SACE ranked as the world’s No.1 export credit agency.