King & Wood Mallesons has advised state-owned China Travel Service (Holdings) Hong Kong Ltd. on a $1 billion note offer.
Through a wholly owned subsidiary, King Power Capital Ltd., the Hong Kong-based company sold the notes in one $700 million tranche in five-year bonds and one $300 million tranche in 10-year debt. China Travel Service primarily offers travel packages to various Chinese destinations and China visa services to residents in Hong Kong. The company is also engaged in hotel management, logistics and steel production.
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