The investment-grade notes are due 2027

Davis Polk advised the joint lead managers in connection with a $180 million Regulation S offering by Shuifa International Holdings (BVI) Co., Ltd of its 7.20% guaranteed bonds due 2027 guaranteed by Shuifa Group Co., Ltd.

Shuifa Group Co., Ltd. is a leading state-owned conglomerate that focuses on the provision of comprehensive water-related services and solutions, including hydraulic engineering construction, water supply, wastewater treatment and clean energy.

The Davis Polk corporate team included partner Gerhard Radtke, counsel Bingqing Pan and registered foreign lawyer Anlei Zuo. All members of the Davis Polk team are based in the Hong Kong office.