30 October, 2020
Davis Polk advised the underwriters in connection with a Regulation S offering by Hubei Science & Technology Investment Group (Hong Kong) Company Limited, a wholly owned subsidiary of Hubei Science & Technology Investment Group Co., Ltd., of $300 million 2.900% guaranteed bonds due 2025.
Hubei Science & Technology Investment Group Co., Ltd. is the primary platform via which the Wuhan Municipal Government manages the East Lake High-tech Zone with strategic focuses on the construction of infrastructure, the investment in strategic industries, the provision of services to small-and-medium enterprises and the operation and management of state-owned assets. Since its establishment, Hubei Science & Technology Investment Group Co., Ltd. has been designated as the main financing and investment platform of the East Lake High-tech Zone.
The Davis Polk corporate team included partner Gerhard Radtke and counsel Bingqing Pan. Counsel Alon Gurfinkel and associate Summer Xia provided tax advice. Members of the Davis Polk team are based in the Hong Kong and London offices.
The announcement above is not offer for sale of securities in the United States. The securities referred to herein (the "Securities") have not been registered under the U.S. Securities Act of 1933, as amended (the “Securities Act”), and may not be sold in the United States absent registration or an exemption from registration under the Securities Act. The issuer of the Securities does not intend to register any part of the offering in the United States or to conduct a public offering of the Securities in the United States.
