Davis Polk advised the joint bookrunners on a Regulation S offering by New Dian Group Pte. Ltd., a private company organized under the laws of the Republic of Singapore, of $200 million 7.375% guaranteed bonds due 2021. The bonds are guaranteed by Kunming Iron & Steel Holding Co., Ltd., a state-owned enterprise incorporated in the People’s Republic of China.

Kunming Iron & Steel Holding Co., Ltd. is a diversified services company that produces and trades materials and resources, including iron ore, cement and coking coal. The company manufactures and sells steel products in southern Yunnan province in the PRC and is also involved in logistics, hotels, real estate and construction, among others.

The Davis Polk corporate team included partners Paul Chow and Gerhard Radtke, counsel-registered foreign lawyer Xuelin (Steve) Wang, counsel Terrence R. O’Donnell and registered foreign lawyer Xin (Sheen) Xu. Counsel Alon Gurfinkel and associates Omer Harel and Veronica Davis provided tax advice. Members of the Davis Polk team are based in the Hong Kong and London offices.

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