Five Firms Act On Restructuring Of Convertible Bonds Issued By Novaland
Five Firms Act On Restructuring Of Convertible Bonds Issued By Novaland
Quintet advised on the restructuring of USD 300 million 5.25% convertible bonds issued by No Va Land Investment Group (Novaland), a prominent mid-market residential real estate developer in Ho Chi Minh City.
Hogan Lovells' team, led by Hong Kong-based Partner Jonathan Leitch and Vietnam office’s Managing Partner Gaston Fernandez, advised the ad hoc group of bondholders.
Sullivan & Cromwell's team, led by Chris Beatty, collaborated with Hogan Lovells on this matter.
Novaland was represented by Sidley Austin, BlackOak, and YKVN.
The multidisciplinary cross-border team from Sidley Austin was led by Matthew Sheridan, Alexius Chong, Gordon Davidson, and Mark Knight, spanning the Hong Kong, Singapore, and London offices.
The Singapore International Commercial Court (SICC) granted its first order approving a pre-packaged scheme of arrangement for Novaland, setting a precedent for future foreign company restructurings under the SICC. The deal was finalized on July 9, 2024.
