On the afternoon of October 17, immediately after the Government Inspectorate announced the inspection conclusion, Novaland Group issued a press release stating that it had proactively reviewed, remedied the shortcomings and closed more than VND15,000 billion of bonds, and at the same time deployed a roadmap to handle the remaining outstanding debt to ensure investors' rights according to regulations.
Novaland affirmed its commitment to continue to make the highest efforts to fulfill all bond obligations, ensuring the legitimate rights of bondholders, investors and related parties.
According to the announcement, on August 5, 2025, the Government Inspectorate announced the Inspection Conclusion on compliance with legal policies in the issuance and use of funds from individual corporate bonds in the period of 2015-2023, for 67 issuing organizations, including the Novaland Group and related companies.
Novaland said that these bond packages were issued from 2015 to mid-2023, with a total outstanding debt as of June 30, 2023 of VND34,878 billion. After the financial restructuring process for the period 2024-2025, the group has settled VND15,319 billion, accounting for nearly half of total outstanding loans, bringing the total outstanding loans of individual bonds issued as of September 30, 2025 to VND19,559 billion.
For the 24 bond packages mentioned in the Inspection Conclusion, Novaland said that it has paid and closed 15 packages, with an initial total value of about VND 7,000 billion (accounting for 57.7% of total initial outstanding loans); successfully restructured and extended 1 package worth VND 250 billion; Maintained the due payment of 7 packages from the legal revenue of the projects; and the remaining 1 expired package (equivalent to 8.2% of total initial outstanding loans) is also being paid in installments, down from VND 1,000 billion to VND 833 billion in the direction of consensus of bondholders.
Novaland representative said: "We have seriously accepted the conclusion, proactively reviewed and handled each bond package. Up to now, most of the obligations have been fulfilled, the rest are also being implemented according to a clear roadmap to ensure maximum benefits for investors".
Regarding the content related to the announcement of the release, Novaland said that there were some unnecessary shortcomings and delays in the period of social distancing due to the COVID-19 pandemic, but quickly overcame and supplemented them fully and accurately as soon as conditions allowed.
The Group affirmed that the capital mobilized from bonds has been used for the right purposes and according to the approved plan; periodically comparing debts, requiring partners to report legal progress and business results of the sponsored projects.
Regarding the content related to the transfer of contributed capital stated in the Inspection Conclusion, Novaland emphasized that it was not related to the previous transactions of the seller, and always required a commitment to the legality and legal ownership of the transferred capital.
With a spirit of openness and responsibility, Novaland said that it has sent a document explaining and updating details to the Government Inspectorate, and affirmed that it will continue to closely coordinate with the authorities, be transparent in all activities and fully implement the roadmap to handle the remaining outstanding debt.
We are committed to continuing to make the highest efforts to fulfill all bond obligations, ensuring the legitimate rights of bondholders, investors and related parties, emphasized the Group representative.
