Davis Polk advised the joint lead managers in connection with the $600 million Regulation S offering by Shui On Development (Holding) Limited of its 6.40% senior perpetual capital securities callable 2022. The securities are guaranteed by Shui On Land Limited.
Shui On Land Limited is one of the leading property developers in China and the flagship property company of the Shui On Group in mainland China, with a focus on large-scale city-core property development projects. Shui On Land Limited currently has projects in Shanghai, Wuhan, Chongqing, Foshan and Dalian.
The Davis Polk corporate team included partner William F. Barron, counsel Gerhard Radtke, registered foreign lawyer Tae-Hun Kim and associates Bingqing Pan and Justina Lam. The tax team included counsel Alon Gurfinkel and associate Kelli A. Rivers. Members of the Davis Polk team are based in the Hong Kong and London offices.