Yan Zhang
  1. Partner
Ms. Zhang is a partner in Davis Polk’s Corporate Department, practicing in the Derivatives and Structured Products Group. She regularly represents financial institutions on securities offerings of structured products linked to equities, commodities, currencies, rates and combinations of these assets. She has extensive experience in the development of new financial products, including exchange traded notes and proprietary indices for retail and institutional investors. She also advises financial institutions, corporations and investment funds in structuring, negotiating and documenting equity derivatives transactions as well as offerings of convertible and exchangeable securities.

Work Highlights

Representations
  • A large European financial institution on over 500 structured products offerings valued over $6 billion in the aggregate during 2014
  • Joint book-running managers on an SEC-registered offering of 22,000,000 depositary shares representing $3.6 billion aggregate liquidation amount of mandatory convertible preferred stock of Apache Corporation
  • Joint book-running managers on an SEC-registered offering of $3.63 billion aggregate principal amount of equity units of PPL Corporation
  • A leading automobile manufacturer in connection with:
    • The negotiation and modification of the class action settlement agreement with the UAW
    • The related issuance of a $6.7 billion amortizing guaranteed secured note due 2022
    • A $6.5 billion stock-settleable amortizing guaranteed secured note due 2022 and 362 million warrants to purchase shares of automobile manufacturer's common stock 
    • The SEC-registered offering of 362 million warrants by the UAW for aggregate proceeds of $1.8 billion
  • Hedging counterparties in connection with convertible note hedge and warrant transactions with Legg Mason, Inc. relating to Legg Mason’s sale of $1.25 billion senior convertible notes due 2015 to a private equity firm 
  • A large U.S. bank in connection with a sovereign wealth fund's purchase of such bank’s $5.6 billion equity units with mandatory conversion into its common stock

Professional History

  • Davis Polk since 2004
  • Partner, 2016-present

Bar Admissions

  • State of New York

Education

  • B.S., Biological Sciences, Tsinghua University, 1995
  • Ph.D., Genetics, Columbia University, 2001
    • Peter Sajovic Memorial Prize
  • J.D., Columbia Law School, 2004
    • Harlan Fiske Stone Scholar
    • James Kent Scholar
    • Editor, Columbia Journal of Asian Law

Languages

  • Mandarin