Davis Polk advised China Cinda Asset Management Co., Ltd. in connection with the $3 billion Regulation S notes offering by China Cinda’s wholly owned subsidiary, China Cinda Finance (2017) I Limited, consisting of $300 million aggregate principal amount of its 3.0% guaranteed senior notes due 2020, $1.3 billion aggregate principal amount of its 3.65% guaranteed senior notes due 2022, $700 million aggregate principal amount of its 4.1% guaranteed senior notes due 2024 and $700 million aggregate principal amount of its 4.4% senior notes due 2027. The notes were offered under a new medium-term note program established by China Cinda’s wholly owned subsidiaries, China Cinda Finance (2017) I Limited and China Cinda Finance (2017) II Limited. Pursuant to the program, the notes are guaranteed by China Cinda (HK) Holdings Company Limited and supported by a keepwell deed and a deed of equity interest purchase, investment and liquidity support undertaking from China Cinda.

Headquartered in Beijing, China Cinda is a leading asset management company in the PRC and listed on the Hong Kong Stock Exchange. China Cinda focuses on distressed asset management and provides customized financial solutions and differentiated asset management services to its clients through the synergistic operation of its diversified business platforms. It is the first financial asset management company approved for establishment by the State Council and the leader of China’s distressed asset management industry in terms of income, profit, business scale and cash recovered.

The Davis Polk team included corporate partners William F. Barron and Paul Chow, counsel Margie Chan and associates Bingqing Pan and Yang Chu. Counsel Alon Gurfinkel and associate Kelli A. Rivers provided tax advice. Members of the Davis Polk team are based in the Hong Kong and London offices.

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