No Va Land applies for court approval of scheme of arrangement

By Marisa Wong

Los Angeles, April 12 – No Va Land Investment Group Corp. issued an update relating to the proposed restructuring of its $300 million 5.25% convertible bonds due 2026 (ISIN: XS2364281175).

The company has filed an application in the Singapore International Commercial Court for an order approving its scheme of arrangement, according to a notice on Friday.

As announced on March 5, No Va Land proposed to enter into a pre-packaged scheme of arrangement with its creditors relating to any claim or liability related to the 2026 convertible bonds.

On April 3 the company announced that the scheme had been approved by the required majority of scheme creditors.

If the scheme is approved by the court and the order approving the scheme is lodged with the Accounting and Corporate Regulatory Authority of Singapore, the scheme will become effective and binding.

The hearing date has yet to be set.

As previously reported, the expected long-stop date is May 20.

Morrow Sodali Ltd. is the information agent (+44 20 4513 6933, +852 2316 4130 or novaland@investor.morrowsodali.com).

The scheme document is posted at https://projects.morrowsodali.com/novaland.

No Va Land is a Vietnamese developer active in residential property and luxury resorts.

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