Novaland announced a delay in paying principal and interest on bonds amounting to 285.5 billion VND, including 225 billion VND principal and nearly 60.5 billion VND interest. The reason for this delay is a lack of available funds. The bond NVLH2124002 was issued on April 26, 2021, with a total issuance value of 250 billion VND, originally maturing on February 26, 2024. Currently, Novaland is negotiating with investors regarding this bond repayment, which has been extended to March 10, 2025, and is backed by shares of Nova Consumer Group. Previously, Novaland also delayed payment of nearly 906 billion VND from another bond due to a similar financial shortfall.
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