Davis Polk advised the initial purchasers in connection with a $50 million Regulation S only offering by Logan Property Holdings Company Limited of its 5.75% senior notes due 2022, to be consolidated and form a single series with the $200 million 5.75% senior notes due 2022 issued on January 3, 2017 after the expiration of the initial 40-day distribution compliance period. 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 and Bingqing Pan. 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.