High-yield offering for underground shopping developer
June 18, 2010 | BY
clpstaff &clp articlesRenhe Commercial Holdings has made a US$300 million high-yield offering of its 11.75% senior notes due 2015. The issuer is a PRC-based underground shopping…
Renhe Commercial Holdings has made a US$300 million high-yield offering of its 11.75% senior notes due 2015. The issuer is a PRC-based underground shopping centre operator and developer. The underwriters were Bank of America, Merrill Lynch, Bank of China, J.P. Morgan and UBS.
Advising the issuer was Davis Polk & Wardwell on US law. Its team included William Barron and Show-Mao Chen. Hong Kong counsel to Renhe was Norton Rose and its PRC counsel was Jingtian & Gongcheng.
US counsel to the underwriters was a Latham & Watkins team led by David Zhang, Eugene Lee, Louis Rabinowitz and Zheng Wang. Kaiwen Law Firm was PRC counsel to the underwriters.
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