Davis Polk advised the underwriters in connection with a Regulation S offering by CNAC (HK) Finbridge Company Limited, an indirectly wholly owned subsidiary of China National Chemical Corporation Limited, of $300 million aggregate principal amount of its 3.125% guaranteed bonds due 2022, $900 million aggregate principal amount of its 3.375% guaranteed bonds due 2024, $900 million aggregate principal amount of its 3.875% guaranteed bonds due 2029 and $200 million aggregate principal amount of its 4.75% guaranteed bonds due 2049.

China National Chemical Corporation Limited’s operations are primarily conducted in five business segments: (i) oil processing and fundamental chemical products, (ii) new chemical materials and specialty chemicals, (iii) agrochemicals, (iv) tyre and rubber products and (v) chemical equipment. China National Chemical Corporation Limited ranked 167th on the 2018 Fortune Global 500 list. Among other subsidiaries, China National Chemical Corporation Limited owns controlling interests in seven listed companies.

The Davis Polk corporate team included partner Gerhard Radtke, counsel-registered foreign lawyer Xuelin (Steve) Wang and registered foreign lawyers I. Danni Lin and Xin (Sheen) Xu. Counsel Alon Gurfinkel and associate Omer Harel provided tax advice. Members of the Davis Polk team are based in the Hong Kong and London offices.

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