Davis Polk advised the joint lead managers in connection with the Regulation S only offering by Joy Treasure Assets Holdings Inc., a wholly owned subsidiary of China Orient Asset Management (International) Holding Limited (“China Orient”), of its $400 million 3.875% bonds due 2024 and $300 million 4.500% bonds due 2029.
China Orient, a wholly owned subsidiary of China Orient Asset Management Co., Ltd., whose ultimate parent is the Ministry of Finance of the People’s Republic of China, offers a broad range of financial services and products, including its core business of non-performing asset management.
The Davis Polk corporate team included partner Paul Chow, counsel-registered foreign lawyer Xuelin (Steve) Wang and registered foreign lawyers Jennifer Liu and Xin (Sheen) Xu. Counsel Alon Gurfinkel and associates Omer Harel and Veronica Davis provided tax advice. Members of the Davis Polk team are based in the Hong Kong and London offices.