Davis Polk advised the joint lead managers in connection with the Regulation S offering of $80 million principal amount of 11.875% senior notes due 2020 by Yango (Cayman) Investment Limited to be consolidated and form a single series with its $260 million 11.875% senior notes due 2020 issued on March 21, 2019 and further issued on June 19, 2019. The notes are guaranteed by Fujian Yango Group Co., Ltd.

Fujian Yango Group Co., Ltd. is a large private corporate group primarily engaging in property development, trading, education service and environmental protection businesses. Leveraging its strong foothold in Fujian province, Fujian Yango Group Co., Ltd. has expanded into other cities across China including Shanghai, Beijing, Hangzhou, Fuzhou and Shenzhen.

The Davis Polk corporate team included partners Gerhard Radtke and Yang Chu, counsel-registered foreign lawyer Xuelin (Steve) Wang and registered foreign lawyers Jennifer Liu and Xiushan Sun. The tax team included counsel Alon Gurfinkel. Members of the Davis Polk team are based in the Hong Kong and London offices.

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