Davis Polk advised Citigroup Global Markets Limited and Merrill Lynch (Singapore) Pte Ltd as the joint lead managers in connection with a Regulation S offering by DFCC Bank of its $100 million 9.625% senior notes due 2018.   

Created in 1955 by an act of the Sri Lankan parliament and listed on the Colombo Stock Exchange since 1956, DFCC Bank is an independent policy bank and is the only financial institution in Sri Lanka to hold both commercial bank and specialized bank licenses.

The Davis Polk corporate team included partner Eugene C. Gregor, counsel Ferish Patel and associate Paul C. Marks. Partner John D. Paton and counsel Alon Gurfinkel provided tax advice. Lu Tan was the legal assistant on the transaction. Members of the Davis Polk team are based in the Beijing, Hong Kong and London offices.