Sunac China Holdings Limited’s $210 Million Senior Notes Offering

Conyers acted as special legal counsel in the Cayman Islands to Sunac China Holdings and as special legal counsel in the British Virgin Islands to the subsidiary guarantors. Shearman & Sterling represented the initial purchasers in the offering.Sunac China Holdings Limited announced the issue of 6.5% Senior Notes due 2025 with an aggregate principal amount of US$210 million to be consolidated and form a single series with the US$540 million 6.5% Senior Notes due 2025 issued by the Company on 10 January 2020 and 5.95% Senior Notes due 2024 with an aggregate principal amount of US$342 million to be consolidated and form a single series with the US$600 million 5.95% Senior Notes due 2024 issued by the Company on 26 January 2021.

Zhuo Yue Real Estate Investment Holdings Limited, Ying Zi Real Estate Investment Holdings Ltd, Ding Sheng Real Estate Investment Holdings Ltd, Jujin Real Estate Investment Holdings Ltd, Qiwei Real Estate Investment Holdings Ltd. and Sunac Real Estate Investment Holdings Ltd acted as subsidiary guarantors of the Company.

The initial purchasers including The Hongkong and Shanghai Banking Corporation Limited, Morgan Stanley & Co. International plc, China CITIC Bank International Limited, China Securities (International) Corporate Finance Company Limited, Citigroup Global Markets Limited, Credit Suisse (Hong Kong) Limited and Guotai Junan Securities (Hong Kong) Limited.

Sunac China Holdings Limited is a major property developer headquartered in Tianjin, China.

The Conyers’ team was led by Partner Anna Chong (Picture) and Associate Alexander Doyle.

Shearman & Sterling represented the initial purchasers with partner Alan Yeung, associate Yuanjing Chen, and international specialist Yiming Chen (Shanghai-Capital Markets).

Involved fees earner: Anna Chong – Conyers Dill & Pearman; Alexander Doyle – Conyers Dill & Pearman; Yuanjing Chen – Shearman & Sterling; Alan Yeung – Shearman & Sterling;

Law Firms: Conyers Dill & Pearman; Shearman & Sterling;

Clients: China CITIC Bank International; China Securities Co. Ltd; Citigroup Global Markets Ltd; Credit Suisse Hong Kong Limited; Ding Sheng Real Estate Investment Holdings Ltd; Guotai Junan Securities Co., Ltd.; Jujin Real Estate Investment Holdings Ltd; Morgan Stanley; Qiwei Real Estate Investment Holdings Ltd.; Sunac China Holdings Limited; Sunac Real Estate Investment Holdings Ltd ; The Hongkong and Shanghai Banking Corporation Limited; Ying Zi Real Estate Investment Holdings Ltd; Zhuo Yue Real Estate Investment Holdings Limited;

Sonia Carcano

Author: Sonia Carcano