The 3.45% bonds are due 2030

Davis Polk advised the joint lead managers in connection with a Regulation S offering by China Water Affairs Group Limited of its CNY1 billion 3.45% bonds due 2030 guaranteed by Credit Guarantee and Investment Facility (CGIF), a trust fund of the Asian Development Bank (ADB).

China Water Affairs Group Limited is one of the largest publicly-listed water supply companies in China. China Water Affairs Group Limited is listed on the Hong Kong Stock Exchange. CGIF was established by ASEAN members, the PRC, Japan, Korea and the ADB to promote economic development, stability and resilience of financial markets in the region.

The Davis Polk corporate team included partner James C. Lin, counsel Bingqing Pan and registered foreign lawyers Moran Zhang and Sean Su. All members of the Davis Polk team are based in the Hong Kong office.

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