Quintet advises on the restructuring of USD300 million 5.25% convertible bonds issued by No Va Land Investment Group (Novaland), one of the largest mid-market residential real estate developers in Ho Chi Minh.
Hong Kong-based partner Jonathan Leitch and the Vietnam office’s managing partner, Gaston Fernandez, led the Hogan Lovells team, advising the ad hoc group of bondholders. Chris Beatty led the Sullivan & Cromwell team that worked alongside Hogan Lovells.
Sidley Austin, BlackOak and YKVN represented Novaland. Matthew Sheridan, Alexius Chong, Gordon Davidson and Mark Knight led the Sidley multidisciplinary cross-border team, involving 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 finalised on 9 July 2024.
