Davis Polk & Wardwell advised Shanda Interactive Entertainment Limited on its Rule 144A offering of $175 million aggregate principal amount of 2.0% convertible senior notes due 2011. Goldman Sachs (Asia) L.L.C. and J.P. Morgan Securities Ltd. were initial purchasers of the notes. In connection with the offering, Shanda also entered into a $175 million accelerated share repurchase agreement with Goldman, Sachs & Co.

Shanda is a leading interactive entertainment media company and one of the largest operators of online games in China. Shanda’s ADSs are listed on the Nasdaq Global Select Market.

The Davis Polk corporate team includes partner James C. Lin, associates Zhan Chen, Alan Fu, Miranda So and Li Han and foreign temporary associate Hao Bian (admitted in China) of the Hong Kong office. Partners John M. Brandow and Mark M. Mendez and associates Posit Laohaphan and Lin Jacobsen of the New York office provided equity derivatives advice. Partner John D. Paton and associate Alon Gurfinkel of the London office provided tax advice. Ka Ying (Candice) Ng of the Hong Kong office and Wen (Wendy) Ye of the Beijing office were the legal assistants for the transaction.