Novaland converts some convertible bonds due 2023 into shares

By Rebecca Melvin

New York, Sept. 15 – No Va Land Investment Group Corp. (Novaland Group) announced it has converted 2.5 bonds of its existing $240 million issue of 5.5% convertibles due 2023 into shares of the company.

The conversion ratio was 75,910 shares per bond. The conversion, representing 0.21% of the total issue, occurred on Sept. 14 after a Sept. 2 conversion notice from bondholders was received.

According to a news release, Citigroup Global Markets Ltd. was the bondholder registered for conversion.

The convertible bonds are listed on the Singapore Stock Exchange.

The real estate development and leasing company is based in Ho Chi Minh City, Vietnam.

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