Second convertible debt offering for Chinese real estate developer
May 04, 2011 | BY
clpstaff &clp articlesPRC real estate developer Yanlord Land Group (Yanlord) has made an offering of US$400 million rule 144A/Regulation S 10.625% senior notes due 2018. The…
PRC real estate developer Yanlord Land Group (Yanlord) has made an offering of US$400 million rule 144A/Regulation S 10.625% senior notes due 2018. The issuer develops fully-fitted residential properties and high-end commercial and integrated properties in prime Chinese cities. The initial purchasers of the offering were HSBC, JP Morgan (SEA) and The Royal Bank of Scotland. This was Yanlord's second non-convertible debt securities offering.
The issuer was advised on US and Hong Kong law aspects by a multi-office team led by Hong Kong-based partners at Davis Polk & Wardwell, William Barron, Kirtee Kapoor, and Antony Dapiran. Its Singapore law and UK law advisers were Shook Lin & Bok and Baker & McKenzie respectively. The initial purchasers were counselled by Skadden Arps Slate Meagher & Flom as to US law and Yuan Tai Law Offices as to PRC law.
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