Davis Polk advised COFCO Land Holdings Limited and COFCO (Hong Kong) Limited in connection with the Regulation S offering by Double Rosy Limited, a wholly owned subsidiary of COFCO Land Holdings Limited, of its $800 million 3.625% senior notes due 2019. The notes are supported by a keepwell deed and a deed of equity interest purchase undertaking from COFCO (Hong Kong) Limited. The proceeds from this offering will be used for general corporate purposes and to on-lend to COFCO Land Holdings Limited for partial payment of the consideration in relation to its proposed acquisition of a target group, which is primarily engaged in the development, operation, sale, leasing and management of mixed-use complexes under the flagship brand “Joy City” in China.

COFCO Land Holdings Limited is a large-scale property developer and operator, focusing on development, operation, sales, leasing and management of mixed-use complexes and commercial properties such as shopping malls, offices, serviced apartments, hotels and resorts. COFCO (Hong Kong) Limited is the flagship subsidiary of COFCO Corporation and is the primary platform for executing COFCO’s overseas business strategy.

The Davis Polk corporate team included partners Eugene C. Gregor and Paul Chow, counsel Liang (Alex) Tao and associate Lillian Lian. All members of the Davis Polk team are based in the Hong Kong office.

Goldman Sachs (Asia) L.L.C., BOCI Asia Limited, The Hongkong and Shanghai Banking Corporation Limited, DBS Bank Ltd. acted as joint global coordinators, and Goldman Sachs (Asia) L.L.C., BOCI Asia Limited, The Hongkong and Shanghai Banking Corporation Limited, DBS Bank Ltd., J.P. Morgan Securities plc, Australia and New Zealand Banking Group Limited, Bank of Communications Co., Ltd. Hong Kong Branch, Industrial and Commercial Bank of China (Asia) Limited and Wing Lung Bank Limited acted as joint bookrunners and joint lead managers.