International law firm Davis Polk and local firm Commerce and Finance Law Offices have advised the banks serving as initial purchasers in leading leadin Chinese commercial property developer SOHO China Limited’s $1 billion high-yield note offering.

The issuer was represented by law firms Sidley Austin, Zhong Lun, Walkers, MdME, Lex Caribbean and Commerce and Finance acted in this offering.

Earlier this month, the Hong Kong-listed prime office and complementary retail and high-end residential and hotel developer issued $600 million 10-year senior notes with the yield of 5.75 percent and $400 million at 7.125 percent. It will use the fund for general corporate purpose and temporary cash investment.

The Hong Kong and Shanghai Banking Corporation Limited (HSBC), Morgan Stanley & Co. International plc, Standard Chartered Bank, Barclays Bank PLC and Goldman Sachs (Asia) L.L.C. were the initial purchasers. The Davis Polk team headed by corporate partner William F. Barron. Commerce and Finance Law Offices were engaged to advise on PRC law.

Sidley Austin advised SOHO China as to U.S., Hong Kong and English law; Zhong Lun Law Firm as to PRC law; Walkers as to British Virgin Islands and Cayman Islands law; MdME as to Macau law; and Lex Caribbean as to Barbados law.

Liu Zhen is China senior journalist at ALB. Follow us on Twitter: @ALB_Magazine