Davis Polk advised the initial purchasers in connection with a $370 million Regulation S only offering by Logan Property Holdings Company Limited of its 8.75% senior notes due 2020. The notes are guaranteed by certain of the company’s existing subsidiaries other than (i) those organized under the laws of the PRC and (ii) certain other subsidiaries specified in the offering memorandum.
Logan Property Holdings Company is a property developer in the PRC focusing on the residential property market and its products are primarily targeted at first-time homebuyers and upgraders. In 2018, the company was ranked as the 26th-largest property developer in the PRC by comprehensive strength.
The Davis Polk corporate team included partner William F. Barron
and counsel Margie Chan . The tax team included counsel Alon Gurfinkel and associate Veronica Davis. Members of the Davis Polk team are based in the Hong Kong and London offices.