The loan is provided to support TGDD’s working capital in recognition of their efforts to reduce greenhouse gas emissions across its operations, while implementing actions to minimise plastic bags in its stores.

TGDD is Vietnam’s leading mobile phone and consumer electronics retail chain with over 3,000 points of sales nationwide and millions of products sold annually.

TGDD’s ESG Key Performance Indicators (KPIs) were developed in line with international Sustainability-Linked Loan Principles (“SLLP”) and validated by an external Second Party Opinion firm. 

“The transaction with TGDD reflects HSBC’s ongoing efforts to support Vietnamese corporates to adopt more sustainable business practices”, said Tim Evans, CEO and Head of Banking, HSBC Vietnam.

“Building the strategic relationship with Mobile World Group for nearly 20 years has helped us appreciate their long-term strategy and leverage our solutions to meet their increasing demands”, he added

Vu Dang Linh, CFO of Mobile World Group, emphasized that “Sustainability is more than just a trend—it is our responsibility to the environment and society. This sustainability-linked trade loan provides working capital to The Gioi Di Dong in the recognition of our strategy to reduce greenhouse gas emission intensity and reduce use of plastic bags across our retail network.”

Mobile World raises US$50 million in first bond issuance

Top Vietnamese mobile phone retailer Mobile World Group (MWG) completed its first corporate bond issuance, worth a total of VND1.135 trillion, or about US$50 million, on November 21.