Davis Polk advised Morgan Stanley & Co. International plc and Standard Chartered Bank as initial purchasers in connection with a US$350 million Regulation S offering by Shimao Property Holdings Limited of its 11% senior high-yield notes due 2018.
Shimao is a large-scale developer and owner of high-quality real estate projects in China. It specializes in developing for sale mid- to high-end residential, retail and office properties, as well as hotel, retail and office properties for long-term investment holding purposes.
The Davis Polk corporate team included partner William F. Barron and associate C. Wallace DeWitt. Partner John D. Paton and associate Alon Gurfinkel provided tax advice. Andy Lee was the legal assistant on the transaction. Members of the Davis Polk team are based in the Hong Kong, Tokyo and London offices.
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