What does Novaland say about the bond issuance violations 'named' by the Government Inspectorate?

Regarding the violations in issuing corporate bonds and using bond money of the Novaland group of enterprises that the Government Inspectorate pointed out, Novaland has officially spoken out.

Novaland 's Aqua City project in Dong Nai - Photo: NGOC HIEN

Responding to the Government Inspectorate 's inspection conclusion on the issuance of individual corporate bonds and the use of funds from individual corporate bonds reported by Tuoi Tre Online , Novaland said that these are bond packages issued from February 1, 2015 to June 30, 2023, with a total outstanding debt as of June 30, 2023 of VND 34,878 billion.

According to Novaland, after the restructuring process in 2024 - 2025, Novaland has fully paid off the principal and interest of most of these bond packages, with only "a few outstanding packages remaining".

"The total outstanding debt of privately issued bonds as of September 30, 2025 is VND 19,559 billion. Thus, Novaland has fully paid off VND 15,319 billion, accounting for nearly 44% of the total outstanding debt as of June 30, 2023," Novaland informed.

Regarding the 24 bond packages, the Government Inspectorate has recommended transferring information to the authorities. Novaland said that the group has paid and settled 15 bond packages with a total initial value of 7,000 billion VND (accounting for 57.7% of the total initial outstanding debt).

Basically completed the restructuring and extension of 1 bond package with an initial total value of 250 billion VND, maintained timely payment of 7 bond packages from legal revenue sources of the projects.

For the remaining overdue bond package (accounting for 8.2% of the total initial debt), Novaland has also made principal and interest payments to bondholders to reduce the debt from VND 1,000 billion to VND 833 billion and continued to handle it with many solutions agreed upon by bondholders.

Explaining the violations in disclosing information on bond issuance packages, Novaland said that "due to a number of objective, force majeure events that the company could not control, especially during the period of social distancing due to the COVID-19 pandemic, the process of disclosing bond information had some non-essential information missing and was delayed".

Regarding the sign of using the issued capital to buy the capital contribution, which is not the actual capital contribution as mentioned in the inspection conclusion, Novaland explained that it was "not related" to the seller's previous transactions.

Novaland said that at the time of the capital contribution/share transfer transaction, the seller committed to Novaland the legality of the transferred capital contribution and the seller was the party recognized as a shareholder/member owning the transferred capital contribution at the company issuing the shares/capital contribution. At the same time, the seller is responsible for ensuring that this capital contribution is completely owned, solely and legally disposed of.

"Novaland respectfully acknowledges the shortcomings in the private bond issuance activities as pointed out in the inspection conclusion and always makes the highest efforts in developing solutions to overcome those shortcomings to properly fulfill its commitments to bondholders," Novaland informed.

NGOC HIEN

Source: https://tuoitre.vn/novaland-noi-gi-ve-cac-vi-pham-phat-hanh-trai-phieu-bi-thanh-tra-chinh-phu-diem-ten-20251017215112035.htm