YKVN has been advising Novaland on its ongoing financial restructuring with the latest restructuring of USD 300 million international bonds

YKVN has been advising No Va Land Investment Group Corporation (“Novaland”), one of the largest real estate developers in Vietnam, on its on-going financial restructuring to deal with Novaland’s domestic and offshore debts.  

As part of this engagement, YKVN acts as Vietnam counsel in respect of the restructuring of USD 300,000,000 5.25% international bonds due 2026 and listed on the SGX, alongside Sidley Austin as international counsel, and Black Oak as Singapore counsel.  Deloitte acts as financial advisor for Novaland. 

This has involved amendment and restatement of the bonds by way of a pre-packed scheme of arrangement approved by the Singapore International Commercial Court and which recently became effective on July 5, 2024.   

This significant exercise was not only one of the first instances of a Vietnamese company undergoing a scheme of arrangement, but notably also the first occurrence of a cross-border pre-packed scheme being filed at the Singapore International Commercial Court.  

Managing Partner Truong Nhat Quang leads the YKVN team, with the support of Partners Nguyen Van Hai and Nguyen Thu Hang, along with Counsels Ho Anh Tuyet and Krissen Pillay.  

About Novaland  

Established in 1992, Novaland is a leading Vietnamese property developer listed on the Ho Chi Minh Stock Exchange (HOSE) under the stock code “NVL”. More about Novaland: Home – Công ty Cổ phần Tập đoàn Đầu tư Địa ốc No Va (Mã CK: NVL) (novaland.com.vn)  

Image: © Novaland 

For more information, please contact YKVN Marketing Team:

T: (+84-28) 3 822 3155
marketing@ykvn-law.com