Davis Polk advised Citigroup Global Markets Inc., The Hongkong and Shanghai Banking Corporation Limited and Merrill Lynch International as the joint lead managers in connection with the Rule 144A/Regulation S offering by Bank of Ceylon of its $500 million 6.875% senior notes due 2017.
The offering was Bank of Ceylon’s debut international bond issuance and is the first Sri Lankan, corporate U.S. dollar-bond issuance since 2004. Established in 1939, Bank of Ceylon is the leading commercial bank in Sri Lanka by total assets and branch and ATM network size.
The Davis Polk corporate team included partner Eugene C. Gregor, counsel Ferish Patel and registered foreign lawyer Abhishek Kolay. Partner John D. Paton and associates Alon Gurfinkel and Sarah Joy provided tax advice. Associate Jeanine P. McGuinness provided economic sanctions and regulatory advice. Geetika Sood was the legal assistant on the transaction. Members of the Davis Polk team are based in the Hong Kong, London and Washington DC offices.
