The bonds carry an annual coupon rate of 6,7%. Proceeds from the issuance will fund the construction of a cargo sorting center in Tan Kim, Tay Ninh province, a crucial hub located at the gateway to southern Vietnam. A groundbreaking ceremony for the center is scheduled for 8/2026. Maybank Investment Bank served as the sole arranger for this transaction. This investment follows GHN Express, an SCommerce member unit, commencing operations at its large-scale automated sorting center in Hung Yen earlier this year.

According to a press release dated 26/5/2026, Noriko Nasu, Chief Executive Officer of CGIF, stated the bond issuance underscores the organization's ongoing commitment to fostering private sector development in Vietnam. It also diversifies sectors in the local currency bond market and enables first-time issuers to access long-term capital for their strategic growth objectives.

Luong Duy Hoai, General Director of SCommerce, shared that this bond issuance marks a significant milestone in the company's growth journey. With CGIF's guarantee, SCommerce can access long-term local currency financing, optimizing its capital structure and laying the groundwork for further investment in logistics infrastructure. Hoai stated, "The Tan Kim sorting center specifically reflects SCommerce's vision: building a high-tech logistics ecosystem capable of keeping pace with Vietnam's e-commerce growth over the next decade."

GHN Express's large-scale automated sorting center in Hung Yen. *Photo: SCommerce*

In addition to this transaction, SCommerce announced a comprehensive strategic rebranding of its B2B logistics segment to Giao Hang Nang. This move aims to professionally serve corporate clients, with all services and technology investments focused on B2B heavy cargo transport.

According to the company, Giao Hang Nang currently maintains a damage rate below 1% and an on-time delivery rate above 98%. This performance is thanks to an AI-powered warehouse monitoring system deployed across its network. The company optimizes fleet routing and coordination using proprietary tools, adapted to Vietnam's traffic infrastructure and operating environment. Drivers use an in-house developed last-mile navigation system, while an AI-integrated operating platform supports real-time data updates across the entire logistics chain.

A Giao Hang Nhanh shipper delivering goods to a customer. *Photo: SCommerce*

For a logistics company operating at SCommerce's scale, with thousands of warehouse staff, tens of thousands of delivery personnel nationwide, and a network of over 1,000 post offices and more than 100 warehouses in 34 provinces and cities, meeting governance, operational, and environmental, social, and governance (ESG) standards presents stringent requirements.

(Source: SCommerce)

Established in 2014, SCommerce evolved from GHN Express into an integrated logistics ecosystem comprising GHN Express, GHN Logistics, and Ahamove. It provides delivery, transportation, warehousing, and e-commerce logistics services in Vietnam. The company also applies automated sorting technology within the logistics industry.

CGIF is a trust fund of the Asian Development Bank (ADB), established by the ASEAN+3 countries to support the development of local currency bond markets in the region through credit guarantees. The organization applies a multi-layered due diligence process for issuers, including financial assessment, corporate governance, and environmental, social, and governance (ESG) criteria under the ADB's standard framework.