- 2024-08-01T00:00:00
- Company Research
Further to our July 30 NVL Analyst Meeting Note, this note provides more detailed information regarding NVL’s announcement on its debt restructuring and project development progress.
Debt restructuring: Since end-2022, NVL has been engaged in debt restructuring via negotiations for maturity extensions, asset swaps, and collateral liquidation. Management stated at the July 30 meeting that the total debt balance, including data reflecting that which has reached or secured refinancing plans, was VND54.6tn (USD2.1bn), down 1.4% YTD and down 13% vs end-2022 (Figure 1).
Legal status of key projects: Management expects that in H2 2024G, there will be further progress in resolving the current legal obstacles for key projects Aqua City, Novaworld Phan Thiet, and Novaworld Ho Tram (Figure 4).
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