9 April, 2019
Davis Polk advised the initial purchasers with a $100 million Regulation S only high-yield offering by Power Best Global Investments Limited of its 13.0% senior notes due 2021. The notes are guaranteed by the issuer’s parent company Hong Kong JunFa Property Company Limited.
Established in 1998, JunFa Group is a PRC property developer that enjoys a leading market share in Kunming city, Yunnan province. Its business portfolio includes property development, construction services, property management services and property investment.
The Davis Polk corporate team included partner Gerhard Radtke, counsel – registered foreign lawyer Xuelin (Steve) Wang and associate Lydia Leung. Counsel Alon Gurfinkel and associates Omer Harel and Veronica Davis 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.
