Vietnam Property Woes Rear Up as Major Developer Spars With Creditors
- Developer started debt restructuring talks with bondholders
- Novaland had failed to pay interest on its bonds due in July
This article is for subscribers only.
The turmoil in Vietnam’s property sector continues, with creditors embroiled in a dispute with developer Novaland Investment Group Corp. after it failed to pay interest on a $300 million bond.
The company is committed to resolving the impasse with holders of its 2026 overseas convertible note in “a cooperative spirit, aiming to find optimal solutions that safeguard the interests of bondholders,” Novaland said Tuesday.