Novaland Investment Group Corporation, one of the leading Vietnamese property developers, is pleased to announce the successful close of its US$250 million inaugural syndicated secured term loan facility. The landmark transaction was oversubscribed due to strong demand from banks, which allowed the Company to upsize the facility to US$250 million from its original launch size of US$150 million.

Credit Suisse AG (Singapore) was the Original Mandated Lead Arranger and Bookrunner (“OMLAB”) of the transaction, while Industrial & Commercial Bank of China, Taichung Commercial Bank, Taiwan Business Bank and Taiwan Cooperative Bank joined as Mandated Lead Arrangers and Bookrunners (“MLABs”) during the senior syndication. 

“Credit Suisse is pleased to support Novaland in achieving its strategic objectives by helping the company to access international capital markets, raising US$1 billion across various funding solutions over the past 5 years. The expansion of Novaland’s business during its 27 years of operations is very much correlated to Vietnam’s remarkable growth story and the development of its people. We look forward to contributing to the further growth of the country’s economy through our role as a trusted advisor to many of Vietnam’s leading entrepreneurs and corporates,” said Edwin Low, CEO, Southeast Asia & Frontier Markets, Credit Suisse. 

The transaction attracted another 9 banks during the general syndication, of which the majority represent new banking relationships for Novaland.OCBC joined as Mandated Lead Arranger; Union Bank of Taiwan joined as Lead Arranger; Cathay United Bank, King’s Town Bank, Malayan Banking Berhad and Taishin International Bank joined as Arrangers; while Entie Commercial Bank, Far Eastern International Bank and Sinopac Capital International Limited joined as Managers. 

“We are pleased to have successfully concluded this landmark transaction. The strong interest from banks is testament to the growing confidence in Vietnam’s economy and in Novaland’s credit worthiness. This funding will help Novaland fulfill its development goals and at the same time diversify the Group’s capital sources,” said Mr. Bui Xuan Huy, CEO of Novaland Group.

By successfully navigating many opportunities and challenges throughout its 27-year journey, Novaland has consolidated its position as a leading real estate developer and a pioneer in the development of new product suites for the market. 2019 has been a pivotal year in Novaland’s new strategic development roadmap, with the Group expanding into the hospitality real estate segment (Second Homes) with a series of projects launched under three brands in destinations having significant potential for tourism and infrastructure development: NovaBeach, NovaHills and NovaWorld.

Novaland's total accumulated and under-research landbank is approximately 4,900 hectares, allocated for 3 key product lines: Central Real Estate in Ho Chi Minh City (HCMC), Satellite Urban Areas in HCMC’s surrounding provinces such as Dong Nai Province, and Residence projects & Integrated Resorts (Second Homes) in high potential tourism destinations, ensuring sustainable growth of Novaland in the next 10 years. 

In the recent review in July 2019, for three years in a row, Novaland’s shares (NVL) were again listed in the Viet Nam Sustainable Development Index (VNSI) of the Ho Chi Minh Stock Exchange. Besides, NVL continued to be present in other leading market indices, namely VN30 and VN100. In 2018, Novaland successfully raised US$520 million, including US$460 million raised by Credit Suisse through a mixture of financing, convertible bonds and private equity placement, and a US$60 million loan arranged by Standard Chartered Bank.

Novaland Investment Group Corporation 

Novaland Investment Group Corporation is a leading Vietnamese property developer primarily focused on the development of mid to high-end residential real estate in Ho Chi Minh City and recently expanded into the hospitality sector. Listed in 2016, Novaland is currently one of the largest companies on the Ho Chi Minh City Stock Exchange and the second largest listed real estate company in Vietnam, with a market capitalization of US$2.4 billion as at 31 October 2019. With c. 24% market share (as of 2017, according to Savills), the Company is the number one residential developer in Ho Chi Minh City. Novaland recorded Total Assets of US$3,013.5 million, Revenues of US$659.1 million and EBITDA of US$194.3 million for FY2018. 

Credit Suisse AG

Credit Suisse AG is one of the world’s leading financial services providers and is part of the Credit Suisse group of companies (referred to here as ‘Credit Suisse’). The Group’s strategy builds on Credit Suisse’s core strengths: its position as a leading wealth manager, its specialist investment banking capabilities and its strong presence in our home market of Switzerland. Credit Suisse seeks to follow a balanced approach to wealth management, aiming to capitalize on both the large pool of wealth within mature markets as well as the significant growth in wealth in Asia Pacific and other emerging markets, while also serving key developed markets with an emphasis on Switzerland. Credit Suisse employs approximately 47,440 people. The registered shares (CSGN) of Credit Suisse AG’s parent company, Credit Suisse Group AG, are listed on Switzerland and, in the form of American Depositary Shares (CS), in New York. Further information about Credit Suisse can be found at 

Credit Suisse began active investment banking coverage of Vietnam in 2001 and has since continued to strengthen its presence. Today, the Group has one of the most comprehensive Vietnam coverage teams among international investment banks. The bank has executed a diverse range of investment banking transactions across products for Vietnamese clients, including mergers & acquisitions, debt and equity capital markets, equity and fixed income derivatives, and structured financing. 

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