PRC property developer in senior notes offering
May 04, 2011 | BY
clpstaff &clp articlesChinese property developer KWG Property Holding (KWG) has made a US$350 million Rule 144A/Regulation S offering of 12.75% senior notes due 2016. The privately-owned…
Chinese property developer KWG Property Holding (KWG) has made a US$350 million Rule 144A/Regulation S offering of 12.75% senior notes due 2016. The privately-owned issuer develops residential, commercial and hotel properties in Guangzhou, Suzhou, Kunshan, Chengdu and Beijing. The initial purchasers of the offering were Citigroup Global Markets, HSBC and Standard Chartered Bank.
KWG was advised by Sidley Austin as to US and Hong Kong law aspects, and its PRC adviser was Jingtian & Gongcheng. The initial purchasers were represented by a multi-office Davis Polk & Wardwell team led by William Barron on US and Hong Kong law, while Commerce and Finance Law Offices was their PRC counsel. Conyers Dill & Pearman served as BVI and Cayman Islands counsel.
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