Davis Polk advised the joint global coordinators in connection with a US$300 million Regulation S-only credit enhanced bonds offering by Boom Up Investments Limited. The bonds have the benefit of a keepwell deed provided by its parent company China Minsheng Investment Corp., Ltd (the “Company”, together with its subsidiaries, the “Group”) and an irrevocable Standby Letter of Credit from China Construction Bank Corporation, Hong Kong Branch.
The Company is a leading private investment company with the support of 59 well-known PRC private enterprises acting as shareholders of the Company. The Group is operated primarily through its subsidiaries and its business include, but are not limited to, financial investment, property investment, modern property management, new energy, general aviation and cross-border investment and financing.
The Davis Polk corporate team included partner Paul Chow, counsel Liang (Alex) Tao, associates Yang Chu and Patrick Peng and registered foreign lawyer Han (Annie) Shen. The tax team included counsel Alon Gurfinkel and associate Nicholas A. Machen. Members of the Davis Polk team are based in the Hong Kong and London offices.