PRC property developer issues US$500 million high-yield notes
September 04, 2010 | BY
clpstaff &clp articlesShimao Property Holdings (Shimao) has made a US$500 million Regulation S offering of its 9.65% high yield notes due 2017. The issuer is a major developer…
Shimao Property Holdings (Shimao) has made a US$500 million Regulation S offering of its 9.65% high yield notes due 2017. The issuer is a major developer and owner of premier real estate projects, specialising in developing mid-to-high end residential, retail and office properties for sale. The initial purchasers of the offering were HSBC, Morgan Stanley and Standard Chartered Bank.
Sidley Austin advised Shimao on US and Hong Kong law. The initial purchasers were represented by Commerce and Finance Law Offices, and by a Davis Polk & Wardwell Hong Kong team led by William Barron.
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