Davis Polk advised BOCI Asia Limited and Morgan Stanley & Co. International plc as managers for a Hong Kong law Regulation S-only offering by AVIC International Finance & Investment Limited of its RMB1.5 billion 4.8% guaranteed bonds due 2015. The bonds are unconditionally and irrevocably guaranteed by AVIC International Holding Corporation. Approval from the PRC State Administration of Foreign Exchange has been obtained for the guarantees.
The AVIC Group is a leading importer and exporter of civil aviation products in the PRC and is one of the largest aviation subcontractors in the PRC. The group’s business includes international aviation, trade and logistics, high-end consumer goods and retail, real estate and hotel, high-tech electronics and resource investment and development.
The Davis Polk corporate team included partner Paul Chow, associates Margie Chan and Yang Chu and registered foreign lawyer Haipeng Liang. Counsel Alon Gurfinkel provided tax advice. Counsel Jeanine P. McGuinness provided regulatory advice. Ling Jessica Zhang was the legal assistant on the transaction. Members of the Davis Polk team are based in the Hong Kong, Washington DC and London offices.
