King & Wood Mallesons (KWM) Hong Kong-based debt capital markets team advised on two debut high-yield bond offerings by leading PRC property developers, adding to the team's robust track record in the debut high-yield space.
Jiangsu Zhongnan Construction Group Co., Ltd.
KWM represented Jiangsu Zhongnan Construction Group Co., Ltd. (Zhongnan Construction), one of the leading property developers and a top private construction company in the PRC, in its issuance of US$350 million 10.875% guaranteed senior notes due 2022.
Zhongnan Construction primarily engages in property development and building construction in the PRC. Zhongnan Construction has been ranked among top 20 property developers in the PRC by various authoritative industry rankings. It is also the sole private construction company in the PRC that holds premium and first-class construction qualifications that have been granted to only four construction companies in China.
Jinke Property Group Co., Ltd.
KWM represented Jinke Property Group Co., Ltd. (Jinke Property), one of the leading property developers in the PRC, in its issuance of US$300 million 8.375% notes due 2021.
Jinke Property primarily focuses on real estate development, property management and other businesses, such as property construction, landscape engineering, door and window engineering, interior design, and new energy etc.
KWM advised Zhongnan Construction and Jinke Property in respect of the U.S. law. Both transactions were led by partners Hao Zhou and Michael Lu, with support from counsel Cynthia Tan, and senior associate Jason Du.