SACE announces $200 million financing for VinFast Vietnam

Photo: VinFast

Announced on September 15, the facility supports VinFast Vietnam – a subsidiary of VinFast Auto, the electric vehicle arm of Vingroup – and underscores the company's standing in the global green mobility sector.

Barclays Bank, BNP Paribas, and HSBC acted as Mandated Lead Arrangers, Bookrunners, and Lenders for the financing. HSBC also served as ECA Coordinator, Facility Agent, Security Agent, and Offshore Account Bank. SACE provided a guarantee under its Push Strategy programme, through which it supports major international companies and buyers while fostering commercial relationships with Italian suppliers, including through dedicated business matching initiatives.

The financing will be used for general corporate purposes, including investments, research, and development activities supporting the implementation of VinFast Vietnam’s business plan.

Marco della Seta, Ambassador of Italy to Vietnam, said, "This operation reflects Italy's confidence in Vietnam's rapidly growing market. Opening up to international financing gives Vietnamese companies access to capital and expertise, and supporting Vingroup's electric mobility operations creates concrete opportunities for Italian business here. This agreement is a bridge between Italian technology and Vietnam's transformation."

According to Mario Melillo, chief network officer at SACE, "This transaction marks an important milestone in our cooperation with Vingroup and demonstrates the effectiveness of our partnership with HSBC. Vingroup and VinFast have strong execution capabilities and clear international ambitions – key factors behind our decision to support them.

Through the Push Strategy Programme, we aim to support international groups in their long-term growth while creating new opportunities for cross-market collaboration. Supporting VinFast also allows SACE to deepen its engagement in Vietnam, a dynamic and promising market."

"We are proud to continue working with SACE to bring innovative financing structures to Vietnam," said Tim Evans, CEO of HSBC Vietnam. "This is the fourth deal HSBC has completed with SACE in Vietnam, and we look forward to building on this partnership to support the growth ambitions of Vietnamese corporates as they help the country achieve its strategic objectives."

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