S&C advised bondholders on the successful restructuring of No Va Land’s convertible bonds, in a deal that was named “Restructuring Deal of the Year” at the IFLR Asia-Pacific Awards.
No Va Land Investment Group Corporation, one of the largest real estate developers in Vietnam, completed the restructuring of its New York law-governed $300 million 5.25% Convertible Bonds due 2026 via a pre-packaged scheme of arrangement under Section 71 of the Insolvency, Restructuring and Dissolution Act 2018 of Singapore. The restructuring was the first-ever cross-border pre-pack scheme approved by the Singapore International Commercial Court.
The S&C team advising the ad hoc committee included Chris Beatty, Zoey Zhang and Jisoo Park.