Davis Polk & Wardwell has advised state-run China National Cereals, Oils and Foodstuffs Corp., better known as COFCO, on a $1 billion bond offering.

COFCO is China’s largest food processing, manufacturing and trading company. The issuance, handled through a subsidiary, consisted of a $500 million tranche of five-year notes and a separate $500 million tranche of 10-year notes.