Davis Polk advised Barclays Bank PLC, CITIC Securities Corporate Finance (HK) Limited, The Hongkong and Shanghai Banking Corporation Limited, Morgan Stanley & Co. International plc, UBS AG, Hong Kong Branch and Industrial and Commercial Bank of China (Asia) Limited as joint lead managers in connection with a Regulation S offering by Asia Standard International Group Limited of CNY500 million aggregate principal amount of 6.5% senior notes due 2018 under its US$1 billion Medium Term Note Programme. Davis Polk also advised Morgan Stanley as arranger and Morgan Stanley and UBS as initial dealers in connection with the establishment by Asia Standard of the MTN Programme, of which the underlying documents are governed by English law.
Based in Hong Kong, Asia Standard is principally engaged in property development and investment, hotel and travel agency operations and financial investments. It develops commercial, retail and residential properties in Hong Kong, Macau and the PRC and operates hotels in Hong Kong and Canada.
The Davis Polk corporate team included partners William F. Barron and Paul Chow, counsel – registered foreign lawyer Gerhard Radtke, registered foreign lawyer Shih-Jern Liang, associates Wilson Chan and Kitty Chan and former associates Benjamin Wang and Thomas Graham. Partner John D. Paton and counsel Alon Gurfinkel provided tax advice. Jessica Ling Zhang was the legal assistant for the transaction. Members of the Davis Polk team are based in the Hong Kong and London offices.
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