China Evergrande Group $3 Billion High-Yield Notes Offering.

Legal News & Analysis - Asia Pacific - China - Corporate/M&A

5 February, 2019

 

Davis Polk advised the initial purchasers of the Regulation S offering of high-yield notes by China Evergrande Group of $1.1 billion 7.0% senior notes due 2020, $875 million 6.25% senior notes due 2021 and $1.025 billion 8.25% senior notes due 2022, each to be consolidated and form a single series with the $500 million 7.0% senior notes due 2020, $598.181 million 6.25% senior notes due 2021 and $1 billion 8.25% senior notes due 2022, respectively.

 

China Evergrande Group, listed on the Hong Kong Stock Exchange, is one of the largest developers of residential property projects in different cities across China. Founded in Guangzhou, Guangdong Province in 1996, it has become a leading national property developer in China through its economies of scale and widely recognized brand name.

 

The Davis Polk corporate team included partner Gerhard Radtke, former counsel Margie Chan and associate Hei Tung Cheng. The tax team included counsel Alon Gurfinkel and associate Omer Harel. Members of the Davis Polk team are based in the Hong Kong and London offices.

 

These announcements are not offer for sale of securities in the United States. The securities referred to herein (the "Securities") have not been registered under the U.S. Securities Act of 1933, as amended (the “Securities Act”), and may not be sold in the United States absent registration or an exemption from registration under the Securities Act. The issuers of the Securities does not intend to register any part of the offering in the United States or to conduct a public offering of the Securities in the United States.