Novaland Group, a leading real estate developer in Vietnam, is pleased to announce the second disbursement of US$101 million from its $250 million inaugural syndicated secured term loan facility.

The group had previously received the first disbursement of $149 million from the facility in Q4 2019.

Credit Suisse AG (Singapore) is the Original Mandated Lead Arranger and Bookrunner (OMLAB) of the transaction.

When the world economy is facing new challenges, a new disbursement for a Vietnamese real estate developer indicates that investors and international lenders maintain a positive outlook on the Vietnamese real estate market in general, as well as their confidence and a long-term investment strategy in Novaland in particular.

Novaland is currently one of the few property developers that are receiving strong support from the leading international financial institutions in accumulating more land banks and constructing and developing new projects, which help to accommodate Novaland’s active and diversified fundraising channels at competitive financial costs.

Currently, Novaland is one of the two Vietnamese real estate developers that have successfully listed their convertible bond on the Singapore Stock Exchange.

On the Vietnam Stock Exchange, Novaland’s shares (BBG: NVLVN) have been added to the two leading exchange-traded (ETF) funds -- FTSE Vietnam and VNM ETF -- six months after its listing.

In 2019, Novaland’s shares were also added to the Vietnam Sustainability Index (VNSI) of the Ho Chi Minh City Stock Exchange as well as to other leading stock indices, namely VN30 and VN100.

In 2020, Novaland Group continues implementing Phase 2 of its strategic development roadmap, primarily focused on the development of mid- to high-end properties with three key product lines comprising prime real estate in Ho Chi Minh City, satellite urban areas in the surrounding provinces, and residential projects and integrated resorts ('Second Homes') in high potential tourism destinations.

One of Novaland’s competitive advantages is its total accumulated and under-research land bank of approximately 4,894 hectares, ensuring sustainable growth of the group in the next ten years.

Novaland is introducing residential projects in Ho Chi Minh City, the Aqua City environmental township in Dong Nai Province, and 'Second Home' products in NovaWorld Phan Thiet and NovaWorld Ho Tram.

Novaland has continued recognizing a relatively high take-up rate for low-rise and villa units in Q1 2020 amid the shortage of property supply. Meanwhile, the demand stays high in the real estate market in southern Vietnam.

At the moment, Novaland Group has speedily implemented its so-called Business Contingency Plan to assure the group’s continuous business operations and customers’ uninterrupted transactions.

“Novaland greatly appreciates the investors’ strong confidence in and commitment to Vietnam and Novaland in this loan upsizing, especially in this extraordinary time," said Bui Xuan Huy, CEO of Novaland Group.

"Novaland is well-prepared not only to overcome this difficult situation with our tested experience and in-advance planning but also thoroughly take advantage of appropriate opportunities presented to us during this challenging time.

"We strongly believe in our direction [to maintain] a centralized orientation, clear business strategy, stable land bank, healthy financial structure, prudent risk management, and strict law compliance [while] strengthening competency to become the Vietnamese international brand.

"We will work more diligently and harder to respond the invaluable trust that our customers, partners and investors have put in Novaland,” Huy said.