HANOI (Reuters): A group of international bondholders with 75% of US$300 million worth of convertible bonds in Vietnamese developer No Va Land urged the company to negotiate a restructuring agreement, threatening to derail talks with domestic creditors.
No Va Land, one of Vietnam biggest developers by market value, failed to meet a coupon payment obligation on the US$300 million bonds due on July 16. The bonds were issued in 2021 without warrants and collateral on the Singapore Exchange.
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