HSBC arranges $40 mln loan for Vietnam's Gelex Infrastructure
HSBC has arranged a $40 million unsecured loan for Gelex Infrastructure, under Hanoi-headquartered industrial company Gelex Group.
In a Tuesday announcement, Gelex Group said the loan has a term of five years and is provided with a comprehensive financial guarantee of up to 80% by Italian financial insurance company SACE.
Gelex tower in Hanoi. Photo courtesy of Gelex Group.
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.
This is the second time that HSBC has arranged a non-binding loan guarantee transaction from SACE for a Vietnamese enterprise, since the deal with Nutifood in 2021, Gelex Group added.
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, said Le Tuan Anh, deputy CEO of Gelex Group and a board member of Gelex Infrastructure.
Gelex Infrastructure plays a key role in Gelex Group's investment and development activities across multiple sectors, including electrical equipment, industrial parks, real estate, energy, and clean water.
It oversees several major subsidiaries, such as Viglacera Corporation, Song Da Water Investment JSC, and Long Son Petrochemical Industrial Park Investment JSC.
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