HSBC Vietnam has announced the successful completion of a $200-million five-year syndicated term loan facility for GELEX Infrastructure Joint Stock Company (GELEX Infrastructure).
The facility marks GELEX Infrastructure’s debut in offshore US dollar syndicated financing.
The loan will support the company’s medium-term investment requirements and expansion plans. The transaction was oversubscribed by more than two times, attracting participation from 19 financial institutions, including HSBC.
“Despite uncertain market conditions and a tight timetable, we brought together a broad syndicate of lenders and delivered a tailored solution to support GELEX Infrastructure’s medium-term investment needs,” said Tim Evans, CEO and Head of Banking, HSBC Vietnam.
Last year, GELEX Group and its subsidiaries announced the completion of a $79-million investment from three financial institutions, including HSBC, Landesbank Baden-Württemberg (LBBW) and the Italian Export Credit Agency (SACE).
GELEX Infrastructure received amost 50% of the amount by HSBC in March.
GELEX Group, which is engaged in industrial parks, real estate, energy and clean water, has several subsidiaries, including Viglacera Corporation, Song Da Water Investment JSC, and Long Son Petrochemical Industrial Park Investment JSC.
GELEX is currently pursuing a partner ecosystem strategy to participate in the global value chain, shift towards higher value-added segments, and acquire and apply technology from international partners to boost exports.
