International law firm Dorsey & Whitney LLP announced today that it advised another corporate transaction for Powerlong Real Estate Holdings Limited, a Hong Kong-listed PRC property developer.
Dorsey acted as US and Hong Kong counsel in connection with Powerlong’s offer to purchase for cash for any and all of its outstanding RMB1,500,000,000 10.75% senior notes due 2017. The tender offer was completed on November 2, 2016. Approximately 58.65% of the total aggregate principal amount of the outstanding notes were accepted for purchase representing RMB879,680,000 principal amount of the notes. The notes repurchased pursuant to the tender offer have been cancelled. The dealer manager of the tender offer was HSBC and the information and tender agent was D.F. King Limited.
The Dorsey team representing Powerlong in the tender offer included partners Simon Chan and Kenneth Kwok and associates Hilda Chan and Joanne Yan.
Dorsey Advises Powerlong Real Estate Holdings Limited in Tender Offer
November 2, 2016