Hong Kong - Shandong Hi-Speed Group $400 Million Bonds Offering

Legal News & Analysis - Asia Pacific - Hong Kong- Capital Markets

24 November, 2020

 

Davis Polk advised the joint lead managers in connection with the offering of the $400 million 2.437% bonds due 2023 by Shangdong Hi-Speed Group (Hong Kong) Co., Limited with the benefit of keepwell and liquidity support deed and a deed of equity interest purchase undertaking provided by Shandong Hi-Speed Group Co., Ltd. (the “Company” and, together with its subsidiaries, the “Group”), which is a wholly owned subsidiary of the Company.

 

The Group is the largest provincially supervised state-owned enterprise in Shandong province. The Group constructs and invests in transport infrastructure, such as expressways and railways and serves as the sole railway infrastructure investment platform of the Shandong Government. The Group is the largest infrastructure developer in Shandong province in terms of total assets and profits in 2019.

 

The Davis Polk corporate team included partners Gerhard Radtke and Yang Chu, counsel Bingqing Pan and European counsel John Taylor, and registered foreign lawyers Moran Zhang and Allie Ma. Counsel Alon Gurfinkel and associate Summer Xia provided U.S. tax advice. Counsel Dominic Foulkes provided U.K. tax advice. Members of the Davis Polk team are based in the Hong Kong and London offices.