Davis Polk advised Deutsche Bank AG, Singapore Branch as initial purchaser in connection with the inaugural Regulation S offering by Century Limited, a direct subsidiary of Indiabulls Real Estate Limited, of its US$175 million 10.25% high-yield notes due 2019. The notes are guaranteed by Indiabulls Real Estate Limited and certain of its subsidiaries.

The offering is the first international bond offering by a real estate development company based in India.

Headquartered in Mumbai and publicly traded on the Bombay Stock Exchange and National Stock Exchange of India, Indiabulls Real Estate is one of the largest real estate development companies in India. Its residential and commercial real estate projects are primarily located in the Mumbai Metropolitan Region and the National Capital Region of Delhi, and it has recently expanded into the London property market.

The Davis Polk corporate team included partner Eugene C. Gregor, counsel Ferish Patel and registered foreign lawyer Ryan J. Grimm. Partner John D. Paton, counsel Alon Gurfinkel and associate Lena X. Qiu provided tax advice. Members of the Davis Polk team are based in the Hong Kong and London offices.