The Urethane Blog

Wanhua Repurchases Bonds

Davis Polk Advises Wanhua Chemical Group on Tender Offer

Davis Polk advised Wanhua Chemical Group Co., Ltd. and Wanhua Chemical International Holding Co., Ltd. (“Wanhua Chemical International”) in connection with a cash tender offer, to repurchase any and all of the 4.5% guaranteed bonds due 2017 issued by Wanhua Chemical International on November 19, 2014. The bonds are listed on the Hong Kong Stock Exchange (Bond Stock Code: 85703) and are cleared through the Hong Kong Central Moneymarkets Unit.

Wanhua Chemical Group was established by the National Light Industry Department of the PRC in the late 1970s. It is a Yantaiproducer of MDI and other MDI-related chemical products in China and is currently held by the Yantai Branch of the PRC State-owned Assets Supervision and Administration Commission.

The Davis Polk corporate team included partner William F. Barron, counsel Margie Chan, associate Patrick Peng and registered foreign lawyer Bingqing Pan. All members of the Davis Polk team are based in the Hong Kong office.