China - RiseSun Real Estate Development $175 Million High-Yield Notes Offering.

Legal News & Analysis - Asia Pacific - China - Capital Markets

5 June, 2019


Davis Polk advised the joint lead managers in connection with the Regulation S offering of the $175 million principal amount of 8.0% senior notes due 2022 by RongXingDa Development (BVI) Limited, to be consolidated and form a single class with the $325 million 8.0% senior notes due 2022 issued on April 24, 2019. The notes are guaranteed by RiseSun Real Estate Development Co., Ltd.


RiseSun Real Estate Development Co., Ltd., listed on the Shenzhen Stock Exchange, is a leading real estate developer in the PRC, focusing on developing quality residential properties. RiseSun Real Estate Development Co., Ltd. has successfully established a strong market position in the Beijing-Tianjin-Hebei Bohai Economic Rim and the Yangtze River Delta Region, and has been actively expanding into the Greater Bay Area and central and western China.


The Davis Polk corporate team included partner Gerhard Radtke, former counsel Terrence R. O’Donnell, counsel – registered foreign lawyer Xuelin (Steve) Wang and registered foreign lawyers Jennifer (Yujia) Jiang and Xiushan Sun. 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.


The announcement above is 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 issuer 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.