PRC real estate developer in debt offering
June 18, 2010 | BY
clpstaff &clp articlesThe Yanlord Land Group has issued a US$300 million Rule 144A/Reg S offering of its 9.5% senior notes due 2017. This was Yanlord's debut offering of non-convertible…
The Yanlord Land Group has issued a US$300 million Rule 144A/Reg S offering of its 9.5% senior notes due 2017. This was Yanlord's debut offering of non-convertible debt securities. HSBC, The Royal Bank of Scotland and Standard Chartered Bank were the initial purchasers for the offering.
The issuer is a real estate company that specialises in developing fully-fitted residential properties, and commercial and integrated properties in high-growth cities in five key economic regions in China.
Acting for the issuer as US counsel was Davis Polk & Wardwell, its team led by William Barron in Hong Kong. Yanlord was additionally advised by Hogan Lovells on Hong Kong and UK law, and by Shook Lin & Bok on Singapore law. Skadden Arps Slate Meagher & Flom represented the initial purchasers on US law, while Yuan Tai Law Offices served as PRC counsel to the trio of banks.
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