Shearman & Sterling represented the underwriters in connection with DaFa Properties Group Limited’s offering of $180 million 12.875% senior notes due 2021.
Barclays Bank PLC, BOCI Asia Limited, CCB International Capital Limited, CLSA Limited, CMB International Capital Limited, Credit Suisse (Hong Kong) Limited, Deutsche Bank AG (Hong Kong Branch), Haitong International Securities Company Limited, HeungKong Securities Limited and Natixis acted as initial purchasers of the offering.
Established in 1996, DaFa Properties Group Limited is headquartered in Shanghai, China and operates as a real estate developer. The company develops and sells residential properties, office floors and commercial complexes, and offers property management and leasing services in China.
In April, the firm also represented CMB International Capital, Haitong International Securities, SSIF Securities, Southwest Securities (HK), CRIC Securities and CCB International Capital as the placing agents in connection with the issuance of $120 million aggregate principal amount of 13.5% senior notes due 2020 by DaFa Properties Group Limited.
The team below included international specialist Yiming Chen (Shanghai-Capital Markets) and legal consultant Danxu Wang (Beijing-Capital Markets).