Davis Polk advised Hongkong Ideal Investment Limited Beijing (the “Issuer”) on its $55 million Regulation S offering of 14.750% guaranteed senior notes due 2022, to be consolidated and form a single class with the $150 million 14.750% guaranteed senior notes due 2022 issued by the Issuer on October 8, 2019 and November 19, 2019. The notes were guaranteed by Hongkun Weiye Real Estate Development Co. Ltd (“Beijing Hongkun”) and Tianjin Hongkun Real Estate Development Co. Ltd. 

Beijing Hongkun is a property developer in the PRC with market presence in the Beijing-Tianjin-Hebei region and selected cities in the Yangtze River Delta, the Pearl River Delta, Central China and Hainan Province. Beijing Hongkun primarily engages in the development and sale of a diversified portfolio of residential properties, catering to the need of a wide range of customers. It also develops business parks and commercial properties including shopping complexes, office buildings and retail stores. The Issuer is a wholly owned subsidiary of Beijing Hongkun.

The Davis Polk corporate team included partners Gerhard Radtke and Yang Chu, counsel Bingqing Pan and registered foreign lawyer Moran Zhang. Associates Omer Harel and Summer Xia provided tax advice. Members of the Davis Polk team were based in the Hong Kong and London offices.

 

 

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