King & Wood Mallesons advises Poly Property Group on note issuance

King & Wood Mallesons has advised Poly Property Group on its issuance of $5bn (£3.3bn) notes on the Hong Kong Stock Exchange at an interest rate of 4.75 per cent, due in five years.

The funds raised will be used to refinance existing indebtedness and for general corporate purposes.

Poly Property is the only overseas-listed real-estate flagship enterprise of China Poly Group Corporation.

This is a cross-border project that was completed with co-ordination between the mainland and Hong Kong teams of King & Wood Mallesons.

King & Wood Mallesons served as legal counsel to the issuer. The project was led by partners Zhang Yi, Sau-Wing Mak and Kevin Tong.