Davis Polk advised Hong Kong Red Star Macalline Universal Home Furnishings Limited on its $300 million Regulation S offering of 3.375% guaranteed investment grade bonds due 2022. The bonds were guaranteed by Red Star Macalline Group Corporation Ltd., a PRC incorporated company listed in Hong Kong.

Red Star is the largest home improvement and furnishings shopping mall operator in China in terms of operating area, number of shopping malls and geographic coverage according to Frost & Sullivan. As of June 30, 2017, Red Star had a network of 214 shopping malls with a total operating area of approximately 13,296,491 square meters offering over 19,000 product brands across 150 cities in 28 provinces in China. 

The Davis Polk corporate team included partners William F. Barron and Paul Chow, counsel Margie Chan and associates Bingqing Pan and Justina Lam. 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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