HSBC arranges $200m syndicated loan for GELEX Infrastructure
HSBC secures $200M oversubscribed loan for Vietnam's GELEX Infrastructure
On March 30, HSBC announced the successful completion of the five-year facility, acting as sole mandated lead arranger and bookrunner. The transaction was oversubscribed by more than two times, attracting participation from 19 financial institutions, and will support GELEX Infrastructure's medium-term investment requirements and expansion plans.
GELEX Infrastructure is a key subsidiary of GELEX Group, a Vietnamese conglomerate with established operations in electrical equipment manufacturing and industrial production. The company focuses on infrastructure development, industrial parks, utilities, and energy-related businesses. The new facility strengthens its funding capacity to support growth across core business areas, contributing to essential infrastructure development and Vietnam's broader economic activity.
"Completing this significant syndicated term loan demonstrates what can be achieved when partners move quickly and work closely together," said Tim Evans, CEO and head of Banking at HSBC Vietnam. "Despite uncertain market conditions and a tight timetable, we brought together a broad syndicate of lenders to deliver a tailored solution for GELEX Infrastructure's medium-term investment needs. We're proud to support Vietnamese corporates as they expand and contribute to the country's long-term growth."
Le Tuan Anh, chairman of GELEX Infrastructure JSC, said, "This milestone marks an important step in GELEX Infrastructure's international capital mobilisation strategy and reflects the strong confidence of the global financial community in our governance, financial strength, and long-term vision."
"By executing large-scale transactions with international partners, we are strengthening our ability to connect with global funding sources and support our long-term growth priorities, while contributing to Vietnam's continued economic development," he added.
The transaction was executed within a tight timeframe amid volatile market conditions, reflecting HSBC's syndication and execution capabilities and reinforcing its role in connecting Vietnamese clients to offshore liquidity. It highlights the continued evolution of Vietnamese corporates in accessing international capital, as more leading local groups diversify funding sources and tap offshore syndicated markets to support long-term investment. The successful completion of the deal also demonstrates continued lender appetite for opportunities in Vietnam.
