Davis Polk & Wardwell, Linklaters, Beijing Sunlight Law Firm, Conyers Dill & Pearman, and Jingtian & Gongcheng have advised AVIC International Finance & Investment(AVIC) on the issuance of its 4.8 percent guaranteed bonds worth Rmb1.5 billion ($240 million) due in 2015.

The bonds offered are unconditionally and irrevocably guaranteed by AVIC, as permitted by the PRC State Administration of Foreign Exchange.

BOCI Asia and Morgan Stanley acted as the joint managers for the bond issuance.

The issuer is considered to be one of the largest movers of civil aviation products in China. It has also diversified into real-estate and high-end goods, in addition to resource investment and development.

AVIC was advised by Linklaters, Beijing Sunlight, and Conyers Dill & Pearman on matters of Hong Kong, PRC, and British Virgin Islands laws respectively. The managers, meanwhile, were represented by a Davis Polk & Wardwell team led by corporate Hong Kong partner Paul Chow who advised on Hong Kong and international law aspects, and by Jingtian & Gongcheng who assisted on PRC law aspects.

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