Davis Polk & Wardwell LLP advised Morgan Stanley & Co. International plc and Standard Chartered Bank as initial purchasers in connection with the US$250 million Rule 144A/Regulation S offering by KWG Property Holding Limited of its 12.5% high-yield notes due 2017.
KWG Property Holding Limited is a leading privately owned property developer in China. It is engaged in the development of residential, commercial and hotel properties in Guangzhou, Suzhou, Kunshan, Chengdu and Beijing. The company is listed on the Hong Kong Stock Exchange.
The Davis Polk corporate team included partners William F. Barron and Eugene C. Gregor, and associates Jason H. Pan, Margie Chan and Stephen Takahashi of the Hong Kong office and C. Wallace DeWitt of the Tokyo office. Partner John D. Paton and associate Alon Gurfinkel of the London office provided tax advice. Jenny Zeng of the Hong Kong office was the legal assistant on the transaction.
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