パートナー

Renee Xiong

キャピタル・マーケッツ
M&A

rxiong@sidley.com

香港 +852 2901 3817

- Letter
- A4

Renee Xiong’s practice focuses on capital markets transactions and debt restructurings. In corporate finance transactions, she is a driving force of Sidley’s debt capital markets practice, representing both issuers and underwriters in high-yield and investment-grade debt offerings and more traditional loan arrangements. Her practice has also included liability management and distressed debt restructurings relating to multiple types of debt instruments. Renee has also been instrumental to Sidley’s equity capital markets practice in Hong Kong and represented both issuers and underwriters in equity offerings, including initial public offerings on the NYSE, NASDAQ, and The Stock Exchange of Hong Kong. In addition, Renee has represented sellers and buyers in strategic business combinations and acquisitions, as well as going-private transactions. Renee passed the American Institute of Certified Public Accountants exams in 2004 and is familiar with corporate finance matters.

Renee has been ranked “Band 1” in capital markets (high-yield) by Chambers Greater China Region, and also recognized as a “Leading Individual” in capital markets (debt) by Chambers Greater China Region, Chambers Asia-Pacific and Legal 500 Asia Pacific. Renee is praised as a driving force of Sidley Austin's high-yield debt practice by Chambers Greater China Region 2024. "Renee is my favourite; she is really willing to go the extra mile to get things done or work odd hours for the clients," said a client. Another praised: "Renee has won trust from her corporate clients through years of hard work. Her strong legal knowledge, live deal experience and friendly personality are the key factors for her success." Clients noted in Legal 500 Asia Pacific 2024 that “it is phenomenal that Renee is able to keep on top of all her transactions given the volume of deals she has” and she “really has her clients’ interests close to heart”. Renee is regarded by clients as “the best legal adviser on debt issues for China real estate.”

China Business Law Journal named Renee to its Growth Drivers of the “A-List Top 100 Lawyers” 2020-2024. She is also recognized by IFLR1000 2024 for debt capital markets work. In addition, Renee was recognized as a “Leading Lawyer” by Who’s Who Legal 2016 and 2017 in Capital Markets: Debt and Equity. Who’s Who Legal also identified her as “a world-class capital markets lawyer” and “her knowledge of global debt and equity offerings is ‘second to none.’”

Renee speaks fluent English and Mandarin.

経験

Recent experience includes the representation of:

Debt Restructurings and Liability Management

China Fortune Land Development Co., Ltd. in the restructuring of its US$4.96 billion offshore debt by way of English scheme of arrangement. This landmark deal is the first English scheme of arrangement of a Chinese real estate business in the current wave of companies in the sector seeking large-scale debt restructurings of offshore liabilities and the first successful restructuring transaction to date with a debt-to-equity swap element. This deal was recognized as “Best Property Deal: China Offshore” by FinanceAsia Achievement Awards in 2023.
RiseSun Real Estate Development Co., Limited and its subsidiaries in connection with the restructuring of the group’s offshore dollar-denominated notes through a BVI scheme of arrangement. As a result of the restructuring, the existing New York law-governed notes (US$780 million in principal and interest) issued by RongXingDa Development (BVI) Limited were exchanged for a cash payment and the issuance of two series of new notes with extended maturities. Both series of new notes are governed by New York law, with high yield covenants and are listed on the Singapore Exchange. It is the first Chinese real estate company to complete an offshore restructuring of its indebtedness since 2016. The deal was named as “Deal of the Year” by China Business Law Journal in 2022.
Guangzhou R&F Properties Co., Ltd. in the consent solicitation with respect to the proposed amendments and waivers to its 10 series of US dollar-denominated notes with an aggregate outstanding principal amount of approximately US$4.9 billion issued by its offshore subsidiary Easy Tactic Limited. With respect to all ten series of senior notes, the consent conditions have been satisfied and the requisite consent has been received. This transaction is reported to mark the largest successful restructuring of public real estate debt in Asia to date. The deal was named as “Deal of the Year” by China Business Law Journal in 2022.
Kaisa Group Holdings Ltd. in connection with its exchange offer for its existing US$285,550,431 Series A notes, US$513,991,114 Series B notes, US$628,211,527 Series C Notes, US$685,321,749 Series D notes and US$742,431,780 Series E notes, pursuant to which it issued US$228,130,000 7.25% senior notes due 2020, US$215,385,000 7.875% senior notes due 2021, US$796,919,000 8.50% senior notes due 2022 and US$1,417,503,000 9.375% senior notes due 2024; and the issuance of additional US$56,870,000 7.25% senior notes due 2020, US$9,615,000 7.875% senior notes due 2021, US$23,081,000 8.50% senior notes due 2022 and US$702,497,000 9.375% senior notes due 2024; in each case, in reliance on Regulations S. This deal was recognized as “Deals of the Year” by China Business Law Journal in 2017.
Kaisa Group Holdings Ltd. in its restructuring of over US$3 billion of offshore bond and bank indebtedness through the implementation of schemes of arrangements in the Cayman Islands and Hong Kong and recognition in the United States. This restructuring was named a “Deal of the Year 2016” by Asian-MENA Counsel.
Guangdong - Hong Kong Greater Bay Area Holdings Limited in connection with the exchange offer of its existing US$75 million 12% senior notes due 2023 and US$287.819 million 13.85% senior notes due 2023 for its newly issued US$413,578,609 7% senior notes due 2026. The deal was shortlisted as “Debt Market Deal of the Year: South China & Central China” by ALB China Regional Law Awards in 2023.
Advising on debt restructurings for a number of prominent Chinese real estate companies including Shimao Group Holdings Limited, Kaisa Group Holdings Limited, KWG Group Holdings Limited, Fantasia Holdings Group Co., Ltd, Zhenro Properties Group Limited, Powerlong Real Estate Holdings Limited, Guangzhou R&F Properties Co., Ltd, Logan Group Company Limited and Skyfame International Holdings Ltd to name a few. The debts have complex legal and commercial structures, and include public bonds, private bonds and syndicated and bilateral loans across the distressed Chinese real estate sector. (in progress)
Guangzhou R&F Properties Co., Ltd., in connection with the consent solicitation with respect to the proposed amendments to its three series of US dollar-denominated notes with an aggregated outstanding principal amount of approximately US$5.7 billion issued by its offshore subsidiary Easy Tactic Limited. With respect to all three series of senior notes, the consent conditions have been satisfied and the requisite consents have been received.
Ganglong China Property Group Limited, in connection with its consent solicitation of the US$145 million 13.5% senior notes due 2023 to add a redemption option to allow the Company to redeem all of such notes with newly-issued notes. Requisite consents have been received. After the supplemental indenture to add the redemption option became operative, the Company issued the 9.5% senior notes due 2024 in the aggregate principal amount of US$164.4 million, equal to (i) the then outstanding principal amount of the 13.5% senior notes due 2023 plus (ii) the amount of accrued and unpaid interest to (but excluding) the redemption date, and fully redeemed the 13.5% senior notes due 2023 before the maturity accordingly.
Guangdong - Hong Kong Greater Bay Area Holdings Limited in connection with the solicitation of certain proposed amendments to the indenture governing its outstanding US$439,537,520 7% senior notes due 2026. Requisite consent has been received and the consent solicitation has been successfully completed.
RiseSun Real Estate Development Co., Ltd. in connection with the consent solicitation with respect to the proposed amendments and waivers to the 9.5% senior notes due 2023 in outstanding principal amount of US$199,341,233 and the 9.5% senior notes due 2024 in outstanding principal amount of US$531,289,517, each issued by its subsidiary, RongChangDa Development (BVI) Limited. Requisite consents have been received and the consent solicitation has been successfully completed.
Powerlong Real Estate Holdings Limited in connection with a corporate liability management exercise with respect to high yield notes in an aggregate outstanding principal amount of approximately US$2,132.9 million, including: 1) the exchange offer of its 4.0% senior notes due July 2022, 7.125% senior notes due November 2022 and 6.95% senior notes due July 2023. Minimum acceptance amount of the 6.95% senior notes due July 2023 has been achieved; 2) the consent solicitations with respect to certain proposed waiver and/or proposed amendments to five series of its senior notes due 2023, 2024, 2025 and 2026. Requisite consents have been received under the consent solicitations and the supplemental indentures were executed; and 3) the issuance of US$17,189,000 in aggregate principal amount of new senior notes due July 2024, US$16,607,000 in aggregate principal amount of new senior notes due January 2026 and US$401,485,000 in aggregate principal amount of new senior notes due December 2025.
Dexin China Holdings Company Limited, on the restructuring of its 9.95% senior notes due 2022. A total of 125 scheme creditors holding voting scheme claims in the aggregate principal amount of US$306 million (representing 87.86% of the total value of outstanding voting scheme claims) attended and voted at the scheme meeting, with a total of 125 scheme creditors voting in favour of the scheme. By an order made at the hearing held on 9 June 2023 (Cayman Islands time) (the “Scheme Sanction Order”), the Grand Court of the Cayman Islands sanctioned the scheme. All of the scheme conditions have been satisfied and the scheme effective date occurred on 9 June 2023 (Cayman Islands time). The scheme has therefore become effective in accordance with its terms.
Ganglong China Property Group Limited, in connection with its consent solicitation outside the clearing systems with respect to the proposed waiver of certain default and event of default under, and the proposed amendment to the terms of, the US$145 million 13.5% senior notes due 2023. The consent solicitation has been successfully completed with consent received from all holders of the outstanding notes.
Ganglong China Property Group Limited, in connection with the exchange offer for its existing US$158 million 13.5% senior notes due 2022 into newly issued 13.5% senior notes due 2023 and accrued interest. The exchange offer achieved an acceptance rate of over 91% and US$145 million in principal amount of the 13.5% senior notes due 2023 was issued in connection of the exchange offer.
KWG Group Holdings Limited in connection with (1) the exchange offer with respect to its outstanding US$650 million 6.0% senior notes due 2022 and US$250 million 5.2% senior notes due 2022 for newly issued US$794,925,800 6.0% senior notes due 2024, (2) the exchange offer and consent solicitation with respect to its outstanding US$700 million 7.875% senior notes due 2023 for newly issued US$636,469,000 7.875% senior notes due 2024 and for which requisite consents have been received for certain proposed amendments and waivers, and (3) the consent solicitation with respect to its outstanding US$300 million 7.4% senior notes due 2027; US$300 million 5.95% senior notes due 2025; US$400 million 6.3% senior notes due 2026; US$378 million 6.0% senior notes due 2026; US$453 million 7.4% senior notes due 2024 ; and US$625 million 5.875% senior notes due 2024 for which requisite consents have been received for certain proposed amendments and waivers.
Shimao Services Holdings Limited in the consent solicitation with respect to the proposed amendments and waivers to the HK$3.11 billion 2.25% guaranteed convertible bonds due 2022 issued by its indirect wholly-owned subsidiary, Crystal Idea Group Limited. Requisite consent has been received and the consent solicitation has been successfully completed.
Powerlong Real Estate Holdings Limited in connection with 1) the exchange offer of its outstanding US$200 million 4.0% senior notes due 2022 and US$300 million 7.125% senior notes due 2022 for newly issued US$169,770,700 4.0% senior notes due 2023 and US$262,741,000 7.125% senior notes due 2024; and 2) the consent solicitation with respect to the proposed amendments to 6.95% senior notes due 2023, 6.25% senior notes due 2024, 5.95% senior notes due 2025 and 4.9% senior notes due 2026. Requisite consents have been received for the proposed amendments.
Sunkwan Properties Group Limited in connection with 1) the exchange offer of its outstanding US$210 million 12.25% senior notes due 2022 into newly issued US$222,364,666 12.25% senior notes due 2023; 2) the consent solicitation with respect to the proposed amendments to its outstanding US$160.2 million 13.5% senior notes due 2023. Requisite consents have been received for the proposed amendments and supplemental indenture was executed.
Leading Holdings Group Limited in connection with the exchange offer of its outstanding US$122.73 million (excluding the notes held by its affiliates) 12.0% senior notes due 2022 for newly issued 12.0% senior notes due 2023 and accrued interest. The exchange offer achieved an acceptance rate of over 97% and US$119.43 million in principal amount of the 12.0% senior notes due 2023 issued in connection of the exchange offer.
Guangdong - Hong Kong Greater Bay Area Holdings Limited in connection with the exchange offer of its existing US$75 million 12.0% senior notes due 2022 for its newly issued 12.0% senior notes due 2023.
Zhongliang Holdings Group Company Limited in connection with 1) the exchange offer of its existing US$289.8 million8.5% senior notes due 2022 and US$439.5 million 9.5% senior notes due 2022 into US$201,435,116 8.75% senior notes due 2023 and US$428,400,884 9.75% senior notes due 2023; and 2) the consent solicitations with respect to certain proposed amendments to its existing US$289.8 million 8.5% senior notes due 2022, US$439.5 million 9.5% senior notes due 2022 and US$200 million 12% senior notes due 2023. Requisite consents have been received for the consent solicitations.
Jiayuan International Group Limited in connection with the consent solicitation with respect to proposed amendments to its outstanding US$100 million senior notes due 2022. Requisite consents have been received for the proposed amendments.
KWG Group Holdings Limited in connection with the consent solicitation with respect to proposed amendments and waivers to its outstanding US$50 million 7.5% senior notes due 2022.
Datang Group Holdings Limited in connection with the exchange offer of its existing 12.50% senior notes due 2022 into US$283,950,000 12.50% senior notes due 2023.
Zhenro Properties Group Limited in connection with 1) the exchange offer of its existing 5.95% senior notes due March 2022, 5.98% senior notes due April 2022, 8.70% senior notes due August 2022, and 6.50% senior notes due September 2022 into US$728,623,000 8.0% new USD notes due 2023, the exchange offer of its existing 7.125% senior notes due June 2022 into RMB1,589,980,000 8.0% new RMB notes due 2023, and the consent solicitation with respect to proposed amendments and waivers to the aforementioned five series of existing notes. Requisite consent was received with respect to the consent solicitation and supplemental indentures were executed; 2) the concurrent consent solicitation with respect to proposed amendments and waivers to its existing 8.35% senior notes due 2024, 9.15% senior notes due 2023, 8.3% senior notes due 2023, 7.875% senior notes due 2024, 7.1% senior notes due 2024, 7.35% senior notes due 2025, 6.63% senior notes due 2026, and 6.7% senior notes due 2026. Requisite consents have been received for the concurrent consent solicitation and supplemental indentures were executed; and 3) the consent solicitation with respect to proposed amendments and waivers to its outstanding US$200,000,000 senior perpetual capital securities. The Meeting was duly convened and quorate, the Extraordinary Resolution was passed, and the supplemental trust deed was executed with respect to the perpetual consent solicitation. The aggregate principal amount of all senior notes and perpetual securities involved in the exchange offer and consent solicitation exceeds US$3.54 billion.
Jingrui Holdings Limited in connection with 1) the exchange offer of the outstanding US$175,330,000 of the existing 12.75% senior notes due 2022 into US$171,113,500 12.75% new notes due 2023, and 2) with the consent solicitation with respect to proposed amendments to its outstanding 12.0% senior notes due July 2022, 12.0% senior notes due September 2022, 14.5% senior notes due 2023, 12.5% senior notes due 2023 and 12.0% senior notes due 2024. Requisite consents necessary to effect the proposed amendments were received.
Yida China Holdings Limited in connection with the consent solicitation with respect to proposed waivers and amendments to its outstanding 12.0% senior notes due 2022. Requisite consents necessary to effect the proposed waivers and amendments were received.
Xiang Sheng Overseas Limited and Shinsun Holdings (Group) Co., Ltd. in connection with the exchange offer of the outstanding US$227,750,000 of the existing 12.50% senior notes due 2022 issued by its subsidiary Xiang Sheng Holding Limited into US$134,472,500 13.0% Series A new notes due 2023 and US$86,200,000 13.0% Series B new notes due 2023.
DaFa Properties Group Limited in connection with the consent solicitation with respect to proposed amendment to its outstanding 12.375% senior notes due 2022 and outstanding 13.5% senior notes due 2023. Requisite consents necessary to effect the proposed amendment were received.
DaFa Properties Group Limited in connection with the exchange offer and consent solicitation with respect to certain proposed waivers and amendments to its existing 9.95% senior notes due 2022. The existing notes in an aggregate principal amount of US$144,140,000, or 78.12% of the total aggregate principal amount of the outstanding existing notes, have been validly tendered and exchanged for US$138,384,000 12.5% new notes, upfront principal payment, cash consideration and accrued interest. In addition, requisite consent was received with respect to the consent solicitation and a supplemental indenture was executed to relax restrictive covenants under the existing notes.
Sunkwan Properties Group Limited in connection with the exchange offer of its existing US$139.2 million 12.75% senior notes due 2022 into US$139.2 million 13.5% senior notes due 2023.
Guangzhou R&F Properties Co., Ltd. in connection with the invitations by its offshore subsidiary, Easy Tactic Limited, to eligible holders of its outstanding US$725,000,000 5.75% senior notes due 2022 to either (A) tender any and all of the notes held by such holders for purchase for cash at a discounted purchase price and to approve certain amendments to the terms and conditions of the notes in respect of all of the notes validly tendered, or (B) tender any and all of the notes held by such holders for purchase for cash at par, 50% of which may be accepted for purchase, and to approve certain amendments to the terms and conditions of the notes in respect of all of the notes validly tendered, or (C) to approve certain amendments to the terms and conditions of the notes in respect of all of the notes held by such holders. The consent conditions were satisfied and the requisite consent was received at the Meeting to approve the Extraordinary Resolution. Following approval of the Extraordinary Resolution, the issuer determined to accept for purchase a total of US$116,369,000 in principal amount of the notes under Options (A) and (B).
Ganglong China Property Group Limited, in connection with 1) the exchange offer for its existing 13.5% senior notes due 2021 into US$ 150 million 13.5% senior notes due 2022; and 2) the issuance of additional US$31.3 million 13.5% senior notes due 2022. The above senior notes include “high-yield” covenants and pursuant to Regulation S.
Guangdong – Hong Kong Greater Bay Area Holdings Limited, in connection with 1) the exchange offer for its existing 14% senior notes due 2021 into US$235,720,000 13.85% senior notes due 2023; and 2) the issuance of additional US$41,500,000 13.85% senior notes due 2023. The above senior notes include “high-yield” covenants and are issued pursuant to Regulation S.
Jiayuan International Group Limited in its 1) offer to purchase for cash a total of US$43,889,000 in principal amount of its 13.75% senior notes due 2022 and 2) offer to purchase for cash a total of US$84,890,000 in principal amount of its 13.75% senior notes due 2023.
Haitong International Securities Company Limited as solicitation agent, in connection with Tuspark Forward Ltd’s consent solicitation with respect to certain amendments and waivers to its 1) US$400 million 7.95% guaranteed bonds due 2021 and 2) US$ 550 million 6.95% guaranteed bonds due 2022.
Anton Oilfield Services Group in connection with the exchange offer for its existing 7.5% senior notes due 2022 into US$61,903,000 8.75% senior notes due 2025; and concurrent new money issuance of additional US$88,097,000 8.75% senior notes due 2025, pursuant to Regulation S. The aggregate principal amount of the new notes issued in the concurrent new money issuance and the new notes pursuant to the exchange offer is US$150 million.
Kaisa Group Holdings Ltd. in its offering of US$200 million 9.75% senior notes due 2023, including “high-yield” covenants, pursuant to Regulation S and its concurrent offer to purchase for cash a total of 1) US$59,194,000 in principal amount of 7.875% senior notes due 9 June 2021 and US$54,150,000 in principal amount of 7.875% senior notes due 30 June 2021.
Fantasia Holdings Group Co., Ltd in its 1) issuance of additional US$150 million 11.875% senior notes due 2023, which are consolidated and form a single series with its US$300 million 11.875% senior notes due 2023, including “high-yield” covenants and pursuant to Regulation S and 2) its concurrent offer to purchase for cash a total of US$141,209,000 in principal amount of its senior notes due 2021.
Skyfame Realty (Holdings) Limited, in connection with the consent solicitation with respect to certain proposed waivers and proposed modifications to its US$87.5 million 13% senior notes due 2021 and US$274 million 13% senior notes due 2022.
Guangzhou R&F Properties Co., Ltd. in connection with its offering of US$500 million 11.75% senior notes due 2023 through its offshore subsidiary Easy Tactic Limited as the issuer, including “high-yield” covenants and pursuant to Regulation S and its concurrent tender offer to purchase for cash a total of US$325,146,000 in principal amount of its US$800 million 7.0% senior notes due 2021.
Sinic Holdings (Group) Company Limited in 1) its offering of US$250 million 8.5% senior notes due 2022, which are issued as “green bonds” under its green bond framework including “high-yield” covenants pursuant to Regulation S and 2) its concurrent offer to purchase for cash a total of US$119,355,000 in principal amount of its 11.75% senior notes due 2021.
Jiayuan International Group Limited in its offering of US$300 million 12.5% senior notes due 2023, pursuant to Regulation S and its concurrent offer to purchase for cash a total of US$55,755,000 in principal amount of its 13.75% senior notes due 2022.
Zhongliang Holdings Group Company Limited in 1) its offering of additional US$200 million 9.5% senior notes due 2022, which are consolidated and forms a single series with the US$200 million 9.5% senior notes due 2022, pursuant to Regulation S and 2)its concurrent offer to purchase for cash a total of US$105,480,000 in principal amount of its 8.75% senior notes due 2021.
Dexin China Holdings Company Limited in its offering of US$200 million 9.95% senior notes due 2022, including “high-yield” covenants pursuant to Regulation S and its concurrent offer to purchase for cash for its 12.875% senior notes due 2021.
Jingrui Holdings Limited in connection with the exchange offer for its existing 9.45% senior notes due 2021 and the issuance of US$97,185,000 14.5% senior notes due 2023, pursuant to Regulation S.
Kaisa Group Holdings Ltd. in 1) its offering of additional US$200 million 11.95% senior notes due 2023, which are consolidated and forms a single series with the US$300 million 11.95% senior notes due 2023, pursuant to Regulation S and 2)its concurrent offer to purchase for cash for its 6.75% senior notes due 2021.
Fantasia Holdings Group Co., Limited in connection with its offering of US$200 million 9.875% senior notes due 2023 pursuant to Regulation S and its concurrent offer to purchase for cash for its 8.375% senior notes due 2021.
China Fortune Land Development Co., Ltd in connection with its offering of US$330 million 8.75% guaranteed bonds due 2022 pursuant to Regulation S and its concurrent offer to purchase for cash a total of US$299,932,000 in principal amount of its 6.5% guaranteed bonds due 2020 through its wholly owned subsidiary CFLD (Cayman) Investment Ltd., as the issuer.
Zhenro Properties Group Limited in its offering of US$200 million 8.35% senior notes due 2024, including “high-yield” covenants and pursuant to Regulation S and its concurrent tender offer to purchase for cash for its US$400 million principal amount of 10.5% senior notes due 2020.
Yida China Holdings Limited, in connection with the exchange offer and consent solicitation with respect to certain amendments to its existing US$300 million 6.95% senior notes due 2020 (the “2020 Notes”) The 2020 Notes in an aggregate principal amount of US$247,146,000, or 82.38% of the outstanding 2020 Notes, have been validly tendered and exchanged for 1) new senior notes due 2022 in an aggregate principal amount of US$224,899,000, 2) cash consideration and 3) any accrued and unpaid interest on the 2020 Notes. In addition, requisite consent was received with respect to the consent solicitation and a supplemental indenture was executed to relax restrictive covenants under the 2020 Notes.
LVGEM (China) Real Estate Investment Company Limited, in connection with 1) the exchange offer for its existing 8.5% senior notes due 2020 and the issuance of US$227,390,000 12.0% senior notes due 2023 pursuant to the exchange offer; and 2) the issuance of additional US$222,610,000 12.0% senior notes due 2023, through its wholly owned subsidiary, Gemstones International Limited. The above senior notes include “high-yield” covenants and pursuant to Regulation S.
Guangzhou R&F Properties Co., Ltd. in connection with its offering of US$400 million 8.625% senior notes due 2024 through its offshore subsidiary Easy Tactic Limited as the issuer, including “high-yield” covenants and pursuant to Regulation S and its tender offer to purchase for cash for its US$700 million principal amount of 8.75% senior notes due 2021.
Anton Oilfield Services Group in its tender offer to purchase for cash for its US$300 million principal amount of 9.75% senior notes due 2020.
Fantasia Holdings Group Co., Ltd in its offering of US$450 million 10.875% senior notes due 2023, including “high-yield” covenants and pursuant to Regulation S and its tender offer to purchase for cash for its US$600 million principal amount of 8.375% senior notes due 2021.
AMTD and Admiralty Harbour as Dealer Managers in connection with Hydoo International Holding Limited’s exchange offer for its existing US$157 million notes into US$111,673,000 14.0% senior notes due 2021; and AMTD and BNP PARIBAS as joint global coordinators, joint bookrunners and joint lead managers, Kaisa Financial and Fulbright Securities as joint bookrunners and joint lead managers, in connection with Hydoo International Holding Limited’s issuance of additional US$81,827,000 14.0% senior notes due 2021, pursuant to Regulation S. The aggregate amount of the New Notes issued is US$193,500,000.
Kaisa Group Holdings Ltd. in its tender offer to purchase for cash for its US$300 million principal amount of 12% senior notes due 2019.
Haitong International as placing agent, in connection with Jiayuan International Group Limited’s exchange offer for its existing US$160 million senior notes into US$160 million 11.375% senior notes due 2022; and Haitong International as lead managers, in connection with Jiayuan International Group Limited’s issuance of additional US$225 million 11.375% senior notes due 2022, pursuant to Regulation S.
China Fortune Land Development Co., Ltd, in connection with the consent solicitation with respect to certain proposed amendments to its i) US$920 million 6.5% guaranteed bonds due 2020, ii) US$350 million 6.65% subordinated guaranteed perpetual securities, iii) US$200 million 9% guaranteed bonds due 2021, iv) US$940 million 9% guaranteed bonds due 2021 and v) US$60 million 9% guaranteed bonds due 2021, issued by its wholly owned subsidiary, CFLD (Cayman) Investment Ltd.
Skyfame Realty (Holdings) Limited, in connection with the consent solicitation with respect to certain proposed waivers and proposed modifications to its US$30 million 10% bonds due 2019.
Fantasia Holdings Group Co., Ltd in connection with the exchange offer of its existing US$100 million 8.5% senior notes due 2019 into US$100 million 12.0% senior notes due 2020.
LVGEM (China) Real Estate Investment Company Limited, in connection with the consent solicitation with respect to certain proposed amendments to its US$400 million 8.5% Senior Notes due 2020 issued by its wholly owned subsidiary, Gemstones International Limited.
Hengdeli Holdings Limited in its cash tender offer to purchase up to US$12.7 million in principal amount of its outstanding 6.25% senior notes due 2018.
Anton Oilfield Services Group in connection with the consent solicitation with respect to its US$250 million 7.5% senior notes due 2018.
Guangzhou R&F Properties Co., Limited in connection with a consent solicitation with respect to its outstanding 10.875% senior notes due 2016, 8.75% senior notes due 2020 and 8.5% senior notes due 2019.
Fantasia Holdings Group Co., Limited, in connection with a consent solicitation with respect to its outstanding 7.875% senior notes due 2016, 13.75% senior notes due 2017, 10.625% senior notes due 2019 and 10.75% senior notes due 2020.
Xinyuan Real Estate Co., Ltd. in connection with a consent solicitation with respect to its outstanding 13.25% senior notes due 2018 and 13% senior notes due 2019.
Deutsche Bank AG, Singapore Branch, as dealer manager, in connection with the offer to purchase for cash and consent solicitation relating to any and all of the outstanding 11.75% senior notes due 2015 and 13.0% senior notes due 2016 by Renhe Commercial Holdings Company Limited.
Morgan Stanley & Co. International plc, as dealer manager in connection with the offer to purchase for cash by CITIC Resources Finance (2007) Limited of up to US$200 million in principal amount of its outstanding US$1 billion 6.75% senior notes due 2014.
Kaisa Group Holdings Ltd. in connection with a consent solicitation with respect to its outstanding 12.875% senior notes due 2017, 10.25% senior notes due 2020, 8.875% senior notes due 2018 and 6.875% senior notes Due 2016.
Fantasia Holdings Group Co., Limited in connection with a consent solicitation with respect to its 14% senior notes due 2015.
Shimao Property Holdings Limited in connection with a consent solicitation with respect to its outstanding US$650 million 8% senior notes due 2016, including “high-yield” covenants, pursuant to Rule 144A and Regulation S.
Goldman Sachs and ING Bank, N.V. as solicitation agents in connection with a consent solicitation by Titan Petrochemicals Group Limited with respect to its US$400 million 8.5% guaranteed senior notes due 2012.
Goldman Sachs and ING Bank, N.V., as dealer managers, in connection with the distressed debt restructuring by Titan Petrochemicals Group Limited (the Company) with respect to its $400 million 8.5% guaranteed senior notes due 2012 through an exchange offer consisting of (i) up to US$62 million Variable Rate guaranteed senior notes, (ii) ordinary shares of the Company and (iii) cash, including a covenant strip through an exit consent mechanism.
PT Davomas Abadi Tbk in connection with the debt restructuring by Davomas of its US$238 million 11% guaranteed senior secured notes due 2011 through an exchange offer for approximately US$116 million newly issued variable rate guaranteed senior notes due 2014. The exchange offer achieved an acceptance rate of over 98%. The exchange offer was made to give effect to a Composition Plan approved by creditors and ratified by the Jakarta District Court.

Debt Capital Markets Transactions

Kaisa Group Holdings Ltd. in its offering of approximately US$1,000,022,000 11.7% senior notes due 2025, including “high-yield” covenants and pursuant to Reg S, and its concurrent exchange offer and tender offer to its existing 9.375% senior notes due 2024. The new notes include US$500 million principal amount issued to new investors, and an additional US$500 million principal amount issued to holders of existing notes, pursuant to the terms of the exchange offer. The existing notes were tendered for purchase under an unmodified Dutch auction procedure, in which the Kaisa Group purchased for cash at approximately US$304 million. After the completion of the exchange and tender offer, US$2,247,453,000 in aggregate principal amount of the Existing Notes remain outstanding. This deal was named “Deal of the Year: High Yield” at the IFLR Asia-Pacific Awards 2022, and also named “Securities Deal of the Year: Debt” at the 2022 Asia Legal Awards by Law.com International.
Jiayuan International Group Limited in its offering of US$100 million 7% green convertible bonds due 2025, which are issued as “green bonds” under its green finance framework, pursuant to Regulation S. This is the first-ever green equity-linked offering by a Chinese issuer and the first Chinese real estate developer to access the equity-linked market since November 2018. The deal enabled Jiayuan to tap a new investor base, while diversifying its funding sources to support future green projects. This offering has been named as one of Best Deals (North Asia - China) at The Asset Triple A Country Awards 2021.
Kaisa Group Holdings Ltd. in its offering of US$200 million senior perpetual capital securities and US$250 million 6.5% senior notes due 2021, including “high-yield” covenants, pursuant to Regulation S. The offerings are awarded as “Best Sustainability Bond” in the real estate section by The Asset Triple A Sustainable Capital Markets Regional Awards in 2020.
Zhenro Properties Group Limited in its offering of US$200 million 5.95 % senior notes due 2021 and US$350 million 7.35 % senior notes due 2025, both are issued as “green bonds” under its green bond framework, including “high-yield” covenants and pursuant to Regulation S. The offerings are awarded as “Best Green Bond” in the real estate section by The Asset Triple A Sustainable Capital Markets Regional Awards in 2020.
Kaisa Group Holdings Limited in its offering of US$400 million 11.95% senior notes due 2022, including “high-yield” covenants and pursuant to Rule 144A and Regulation S. This transaction was awarded by as “Best High-Yield Bond” in the real estate section by The Asset Triple A Sustainable Capital Markets Regional Awards in 2019.
China National Offshore Oil Corporation in connection with its offering of US$1.3 billion 4.5% senior notes due 2023, pursuant to Rule 144A and Regulation S and €500 million 2.75% senior notes due 2020, pursuant to Regulation S. This transaction was named “Debt Deal of the Year” by China Business Law Journal and “Best Investment-Grade Bond of the Year” by IFR Asia in 2013.
Guangzhou R&F Properties Co. Ltd in its offering of US$1 billion 8.5% senior notes due 2019 by Trillion Chance Limited, including high-yield covenants and pursuant to Regulation S. This transaction was named as “Debt Deal of the Year” by China Business Law Journal in 2014.
Shimao Property Holdings Limited in connection with its offering of US$350 million 11% notes due 2018, including high-yield covenants and in connection with its offering of US$500 million 9.65% senior notes due 2017, including high-yield covenants, pursuant to Regulation S. This transaction was named in 2010 as “Best High-Yield Bond” by The Asset.
Shimao Property Holdings Limited in its US$500 million Regulation S offering of 9.65% senior notes due 2017. This transaction was named “Best High-Yield Bond Deal of the Year” by The Asset in 2010.

LVGEM (China) Real Estate Investment Company Limited
- in its issuance of 1) HK$154.89 million 8.0% guaranteed commercial paper notes due 2023, 2) US$7.33 million 8.0% guaranteed commercial paper notes due 2023 and 3) CNY$51.8 million 8.0% guaranteed commercial paper notes due 2023. The above commercial papers are issued through its wholly owned subsidiary, Gemstones International Limited, pursuant to Regulation S.
- in its tap issuance of 1) HK$51 million 6.0% guaranteed commercial paper notes due 2023 (to be consolidated and form a single series with the HK$174.6 million 6.0% guaranteed commercial paper notes due 2023) and (2) US$1 million 6.0% guaranteed commercial paper notes due 2023 (to be consolidated and form a single series with the US$8.758 million 6.0% guaranteed commercial paper notes due 2023). The above commercial papers are issued through its wholly owned subsidiary, Gemstones International Limited, pursuant to Regulation S.
- in its offering of 1) HK$222.95 million 6% guaranteed commercial paper notes due 2022, 2) US$11.5 million 6% guaranteed commercial paper notes due 2022, and 3) CNY1 million 6% guaranteed commercial paper notes due 2022. The above commercial papers are issued through its wholly owned subsidiary, Gemstones International Limited, pursuant to Regulation S.
- in its offering of 1) HK$274.3 million 6% guaranteed commercial paper notes due 2022 and 2) US$5.55 million 6% guaranteed commercial paper notes due 2022. The above commercial papers are issued through its wholly owned subsidiary, Gemstones International Limited, pursuant to Regulation S.
- in its offering of 1) HK$331.2 million 6% guaranteed commercial paper notes due 2021; 2) US$11.81 million 6% guaranteed commercial paper notes due 2021; 3) CNY 9.5 million 6% guaranteed commercial paper notes due 2021. The above commercial papers are issued through its wholly owned subsidiary, Gemstones International Limited, pursuant to Regulation S.
- in connection with its offering of US$20 million 12.0% senior notes due 2023 through its wholly owned subsidiary, Gemstones International Limited, as the issuer, which are consolidated and form a single series with its US$450 million 12.0% senior notes due 2023, including “high-yield” covenants and pursuant to Regulation S.
- in its private placement of US$100million 4% convertible bonds due 2023 through its wholly owned subsidiary, Gemstones International Limited, including high-yield covenants and pursuant to Regulation S.
- in its offering of US$225 million 8.5% senior notes due 2020 through its wholly owned subsidiary, Gemstones International Limited, including high-yield covenants and pursuant to Regulation S.

Jiayuan International Group Limited
- in connection with its private placement of US$99.25 million 11.375% senior notes due 2022 pursuant to Regulation S.
- in connection with its offering of US$100,000,000 15% senior notes due 2022, secured by certain property mortgage and share charge, including “high-yield” covenants and pursuant to Regulation S.
- in its offering of US$100 million 11% senior notes due 2024, which are consolidated and form a single series with its US$130 million 11% senior notes due 2024, including “high-yield” covenants and pursuant to Regulation S.
- in its offering of US$130 million 11% senior notes due 2024, including “high-yield” covenants and pursuant to Regulation S.
- in its offering of US$100 million 12.5% senior notes due 2023, which are to be consolidated and form a single series with its US$200 million 12.5% senior notes due 2023, including “high-yield” covenants and pursuant to Regulation S.
- in its offering of US$200 million 12% senior notes due 2022, including “high-yield” covenants and pursuant to Regulation S.
- in its offering of US$200 million 12.5% senior notes due 2023, including “high-yield” covenants and pursuant to Regulation S.
- in its offering of additional US$30 million 11.75% senior notes due 2021, which are consolidated and form a single series with its US$200 million 11.75% senior notes due 2020, including “high-yield” covenants and pursuant to Regulation S.
- in its offering of additional US$67.5 million 13.75% senior notes due 2022, which are consolidated and form a single series with its US$255 million 13.75% senior notes due 2022, including “high-yield” covenants and pursuant to Regulation S.
- in its offering of additional US$60 million 13.75% senior notes due 2023, which are consolidated and form a single series with its US$267.5 million 13.75% senior notes due 2023, including “high-yield” covenants and pursuant to Regulation S.
- in its offering of additional US$30 million 13.75% senior notes due 2023, which are consolidated and form a single series with its US$237.5 million 13.75% senior notes due 2023, including “high-yield” covenants and pursuant to Regulation S.
- in its offering of additional US$30 million 13.75% senior notes due 2022, which are consolidated and form a single series with its US$220 million 13.75% senior notes due 2022, including “high-yield” covenants and pursuant to Regulation S.
- in its offering of additional US$37.5 million 13.75% senior notes due 2023, which are consolidated and form a single series with its US$200 million 13.75% senior notes due 2023, including “high-yield” covenants and pursuant to Regulation S.
- in its offering of US$200 million 13.75% senior notes due 2023, including “high-yield” covenants and pursuant to Regulation S.

Jingrui Holdings Limited
- in connection with its tap issuance of US$19.9 million 12.75% senior notes due 2023, which are consolidated and forms a single series with the US$171,113,500 12.75% senior notes due 2023, including “high-yield” covenants and pursuant to Regulation S.
- in connection with its offering of US$165 million 12% green senior notes due 2024, which are issued as “green bonds” under its Green Finance Framework, including “high-yield” covenants and pursuant to Regulation S.
- in its offering of additional US$50 million 12.5% senior notes due 2023, which are consolidated and forms a single series with the US$190 million 12.5% senior notes due 2023, pursuant to Regulation S.
- in its offering of US$190 million 12.5% senior notes due 2023, including “high-yield” covenants and pursuant to Regulation S.
- in its offering of additional US$110 million 14.5% senior notes due 2023, which are consolidated and forms a single series with the US$240 million 14.5% senior notes due 2023, pursuant to Regulation S.
- in its offering of US$150 million 12% senior notes due 2022 (including an upsize of US$40 million), including “high-yield” covenants and pursuant to Regulation S.
- in its offering of US$180 million 12.75% senior notes due 2022, including “high-yield” covenants and pursuant to Regulation S.
- in its offering of US$260 million 12% senior notes due 2022, including “high-yield” covenants and pursuant to Regulation S.
- in its offering of US$200 million 10.875% senior notes due 2021, including “high-yield” covenants and pursuant to Regulation S.
- in its offering of US$150 million 13% senior notes due 2020, including “high-yield” covenants and pursuant to Regulation S.
- in its offering of US$350 million 9.45% senior notes due 2021, including high-yield covenants and pursuant to Regulation S.

Le Ming International Investment (Hong Kong) Co., Limited
- in connection with its private placement of US$35 million 8% senior notes due 2023, guaranteed by KWG Group Holdings Limited, including “high-yield” covenants and pursuant to Regulation S.
- in its private placement of US$220 million 6.5% senior notes due 2022, guaranteed by KWG Group Holdings Limited, including “high-yield” covenants and pursuant to Regulation S.
- in its private placement of US$150 million 7.75% senior notes due 2021, guaranteed by KWG Group Holdings Limited, including “high-yield” covenants and pursuant to Regulation S.

Datang Group Holdings Limited
- in its issuance of US$46 million 10% senior notes due 2023, including “high-yield” covenants and pursuant to Regulation S.
- in its offering of US$300 million 12.5% senior notes due 2022, including “high-yield” covenants and pursuant to Regulation S.

China Water Affairs Group Limited
- in its offering of US$150,000,000 4.85% senior notes due 2026, including “high-yield” covenants and pursuant to Regulation S, which are issued as “green bonds” under its green bond framework, and consolidated and form a single series with the US$200,000,000 4.85% senior notes due 2026 issued on May 18, 2021.
- in its offering of US$200 million 4.85% senior notes due 2026, which are issued as “green bonds” under its green bond framework, including “high-yield” covenants and pursuant to Regulation S.

Longjitaihe Property Co., Ltd
- in connection with its offering of an additional US$65 million 12.5% senior notes due 2022 through its wholly-owned subsidiary, TaiChen Development (BVI) Limited, as the issuer, which are consolidated and form a single series with its US$100 million 12.5% senior notes due 2025, including “high yield” covenants and pursuant to Regulation S.
- in connection with its offering of US$100 million 12.5% senior notes due 2022 through its wholly-owned subsidiary, TaiChen Development (BVI) Limited, as the issuer, including “high-yield” covenants and pursuant to Regulation S.

Guangdong – Hong Kong Greater Bay Area Holdings Limited
- in its offering of additional US$26,400,000 13.85% senior notes due 2023, which are consolidated and form a single class with the US$277,220,000 13.85% senior notes due 2023 issued on October 12, 2021, including “high-yield” covenants and pursuant to Regulation S.
- in its private placement of US$75 million 12% senior notes due 2022, including “high-yield” covenants and pursuant to Regulation S.

Shimao Services Holdings Limited
- in its 1) offering of HK$3.11 billion 2.25% guaranteed convertible bonds due 2022 through its indirect wholly-owned subsidiary, Crystal Idea Group Limited, pursuant to Regulation S and concurrent 2) top-up placement of 115 million new shares which raised approximately HK$1.745 billion, pursuant to Rule 144A and Regulation S.
- in connection with its offering of 1) US$300 million 3.975% senior notes due 2023, and 2) US$748 million 5.2% senior notes due 2027, which are issued as “green bonds” under its green bond framework. Both senior notes are issued pursuant to Regulation S.
- in its offering of US$700 million 4.5% senior notes due 2022, pursuant to Regulation S.
- in its offering of US$872 million 3.45% senior notes due 2031, pursuant to Regulation S.
- in its offering of US$300 million 4.6% senior notes due 2030, including “high-yield” covenants and pursuant to Regulation S.
- in its offering of US$1 billion 5.6% senior notes due 2026, including “high-yield” covenants and pursuant to Regulation S.
- in its offering of US$1 billion 6.125% senior notes due 2024, including “high-yield” covenants and pursuant to Regulation S.
- in its offering of additional US$570 million 6.375% senior notes due 2021, which are consolidated and form a single series with its US$250 million 6.375% senior notes due 2021, including “high-yield” covenants and pursuant to Regulation S.
- in its offering of US$250 million 6.375% senior notes due 2021, including “high-yield” covenants and pursuant to Regulation S.
- in its offering of an additional RMB 1.2 billion 5.75% senior notes due 2021, which are consolidated and form a single series with its RMB 950 million 5.75% senior notes due 2021, including high-yield covenants and pursuant to Regulation S.
- in its offering of RMB 950 million 5.75% senior notes due 2021, including high-yield covenants and pursuant to Regulation S.
- in its offering of US$500 million 5.2% senior notes due 2025, including high-yield covenants and pursuant to Regulation S.
- in its offering of US$600 million 4.75% senior notes due 2022 (including an upsize of US$150 million), including high-yield covenants and pursuant to Regulation S.
- in its offering of US$800 million 8.375% senior notes due 2022, including high-yield covenants and pursuant to Regulation S.

Dafa Properties Group Limited
- in connection with its offering of US$100 million 13.5% senior notes due 2023, which are issued as “green bonds” under its Green Finance Framework, including “high-yield” covenants and pursuant to Regulation S.
- in its offering of additional US$100 million 9.95% senior notes due 2022, which are consolidated and forms a single series with the US$180 million 9.95% senior notes due 2022, including “high-yield” covenants and pursuant to Regulation S.
- in its offering of US$180 million 9.95% senior notes due 2022, including “high-yield” covenants and pursuant to Regulation S.
- in its offering of additional US$80 million 12.375% senior notes due 2022, which are consolidated and forms a single series with the US$280 million 12.375% Senior Notes due 2022, pursuant to Regulation S.
- in its offering of additional US$130 million 12.375% senior notes due 2022, which are consolidated and forms a single series with the US$150 million 12.375% Senior Notes due 2022, pursuant to Regulation S.
- in its offering of US$150 million 12.375% senior notes due 2022, including “high-yield” covenants and pursuant to Regulation S.
- in its offering of US$200 million 11.5% senior notes due 2021, including “high-yield” covenants and pursuant to Regulation S.
- in its offering of additional US$120 million 12.875% senior notes due 2021, which are consolidated and forms a single series with the US$180 million 12.875% senior notes due 2021, pursuant to Regulation S.
- in its offering of US$180 million 12.875% senior notes due 2021, including “high-yield” covenants and pursuant to Regulation S.
- in its offering of US$120 million 13.5% senior notes due 2020, including “high-yield” covenants and pursuant to Regulation S.

KWG Group Holdings Limited
- in its offering of US$50 million 7.5% senior notes due 2022, including “high-yield” covenants and pursuant to Regulation S.
- in its offering of US$158 million 7.4% senior notes due 2024, which are consolidated and form a single series with its US$300 million 7.4% senior notes due 2024, including “high-yield” covenants and pursuant to Regulation S.
- in its offering of additional US$100 million 5.95% senior notes due 2025, which are consolidated and form a single series with its US$200 million 5.95% senior notes due 2025, including “high-yield” covenants and pursuant to Regulation S.
- in its offering of US$378 million 6% senior notes due 2026, which are issued as “green bonds” under its green bond framework, including “high-yield” covenants and pursuant to Regulation S.
- in connection with its offering of US$300 million 8.0% senior notes due 2021 through its subsidiary, Bondie Investments Limited, as the issuer, including “high-yield” covenants and pursuant to Regulation S.
- in its offering of US$400 million 6.3% senior notes due 2026, including “high-yield” covenants and pursuant to Regulation S.
- in its offering of US$200 million 5.95% senior notes due 2025, including “high-yield” covenants and pursuant to Regulation S.
- in its offering of US$300 million 7.4% senior notes due 2027, including “high-yield” covenants and pursuant to Regulation S.
- in connection with its offering of US$300 million 8.0% senior notes due 2020 through its subsidiary, Bondie Investments Limited, as the issuer, including “high-yield” covenants and pursuant to Regulation S.
- in its offering of US$300 million 7.4% senior notes due 2024, including “high-yield” covenants and pursuant to Regulation S.
- in its offering of additional US$225 million 5.875% senior notes due 2024, which are consolidated and form a single series with its US$400 million 5.875% senior notes due 2024, including “high-yield” covenants and pursuant to Regulation S.
- in its offering of additional US$350 million 7.875% senior notes due 2023, which are consolidated and form a single series with its US$350 million 7.87% senior notes due 2023, including “high-yield” covenants and pursuant to Regulation S.
- in its offering of US$350 million 7.875% senior notes due 2023, including “high-yield” covenants and pursuant to Regulation S.
- in its offering of additional US$150 million 9.85% senior notes due 2020, which are consolidated and form a single series with its US$400 million 9.85% senior notes due 2020, including “high-yield” covenants and pursuant to Regulation S.
- in its offering of US$400 million 9.85% senior notes due 2020, including “high-yield” covenants and pursuant to Regulation S.
- in its offering of US$350 million 7.875% senior notes due 2021, including “high-yield” covenants and pursuant to Regulation S.

Kaisa Group Holdings Ltd.
- in its offering of additional US$100 million 8.65% senior notes due 2022, which are consolidated and forms a single series with the US$200 million 8.65% senior notes due 2022, pursuant to Regulation S.
- in its offering of US$300 million 10.5% senior notes due 2022, including “high-yield” covenants, pursuant to Regulation S.
- in its offering of US$200 million 8.65% senior notes due 2022, which are issued as “sustainable bonds” under its sustainable finance framework, including “high-yield” covenants and pursuant to Regulation S.
- in its offering of additional US$280 million 9.75% senior notes due 2023, which are consolidated and forms a single series with the US$700 million 9.75% senior notes due 2023, pursuant to Regulation S.
- in its offering of US$300 million 11.65% senior notes due 2026, including “high-yield” covenants, pursuant to Regulation S.
- in its offering of US$100 million 9.75% senior notes due 2023, including “high-yield” covenants, pursuant to Regulation S.
- in its private placement of US$110 million 6.6% senior notes due 2022 through its wholly owned subsidiary, Flourish Century Holdings Limited, including “high-yield” covenants and pursuant to Regulation S.
- in its offering of US$200 million 9.95% senior notes due 2025, including “high-yield” covenants, pursuant to Regulation S.
- in its offering of US$300 million 10.875% senior notes due 2023, including “high-yield” covenants, pursuant to Regulation S.
- in its offering of additional US$150 million 6.5% senior notes due 2021, which are consolidated and forms a single series with the US$250 million 6.5% senior notes due 2021, pursuant to Regulation S.
- in its offering of additional US$400 million 11.25% senior notes due 2025, which are consolidated and forms a single series with the US$300 million 11.25% senior notes due 2025, pursuant to Regulation S.
- in its offering of US$300 million 7.875% Senior Notes due 2021, including “high-yield” covenants, pursuant to Regulation S.
- in its offering of US$400 million 6.75% Senior Notes due 2021, including “high-yield” covenants, pursuant to Regulation S.
- in its offering of US$300 million 9.5% Senior Notes due 2025, including “high-yield” covenants, pursuant to Regulation S.
- in its offering of US$500 million 10.5% senior notes due 2025, including “high-yield” covenants, pursuant to Regulation S.
- in its offering of US$300 million 11.95% senior notes due 2023, including “high-yield” covenants, pursuant to Regulation S.
- in its offering of additional US$150 million 10.875% senior notes due 2023, which are consolidated and forms a single series with the US$300 million 10.875% senior notes due 2023, pursuant to Regulation S.
- in its offering of additional US$200 million 11.95% senior notes due 2022, which are consolidated and form a single class with its US$400 million 11.95% senior notes due 2022, including “high-yield” covenants and pursuant to Rule 144A and Regulation S.
- in its offering of US$300 million 10.875% senior notes due 2023, including “high-yield” covenants and pursuant to Regulation S.
- in its additional senior notes offering, including 1) US$200 million 11.25% senior notes due 2022 which are consolidated and form a single series with its US$350 million 11.25% senior notes due 2022; and 2) US$300 million 11.5% senior notes due 2023 which are consolidated and form a single series with its US$400 million 11.5% senior notes due 2023. The bonds include “high-yield” covenants and pursuant to Regulation S.
- in its offering of US$400 million 11.5% senior notes due 2023, including “high-yield” covenants and pursuant to Regulation S.
- in its offering of US$350 million 11.25% senior notes due 2022, including “high-yield” covenants and pursuant to Regulation S.
- in its offering of US$400 million 11.75% senior notes due 2021, including “high-yield” covenants and pursuant to Regulation S.
- in its offering of US$100 million 10.5% convertible bonds due 2023, pursuant to Regulation S.
- in its offering of US$300 million 12.0% senior notes due 2019, including “high-yield” covenants and pursuant to Regulation S.
- in its offering of an additional US$250 million 7.875% senior notes due 2021, which are consolidated and form a single series with its US$325 million 7.875% senior notes due 2021, including “high-yield” covenants and pursuant to Regulation S.
- in its offering of an additional US$330 million 7.25% senior notes due 2020 to be consolidated and form a single series with its earlier issuance of US$460 million 7.25% senior notes due 2020, all including high-yield covenants and pursuant to Regulation S.
- in its offering of an additional 1) US$95 million 7.25% senior notes due 2020 to be consolidated and form a single series with its earlier issuances of US$285 million and US$50 million 7.25% senior notes due 2020; 2) US$100 million 8.5% senior notes due 2022 to be consolidated and form a single series with its earlier issuances of US$820 million and US$120 million 8.5% senior notes due 2022, all including high-yield covenants and pursuant to Regulation S.
- in its offering of an additional US$610 million 9.375% senior notes due 2024 to be consolidated and form a single series with its earlier issuances of US$2.12 billion and US$115 million 9.375% senior notes due 2024, including high-yield covenants and pursuant to Regulation S.
- in its private placement of US$50 million 7.25% senior notes due 2020 to be consolidated and form a single series with its original US$285 million 7.25% senior notes due 2020, US$120 million 8.5% senior notes due 2022 to be consolidated and form a single series with its original US$820 million 8.5% senior notes due 2022 and US$115 million 9.375% senior notes due 2024 to be consolidated and form a single series with its original US$2.12 billion 9.375% senior notes due 2024, all including high-yield covenants and pursuant to Regulation S.
- in its offering of US$400 million 9% senior notes due 2019, including high-yield covenants, pursuant to Regulation S.

Zhongliang Holdings Group Company Limited
- in its offering of US$200 million 12% senior notes due 2023, which are issued as “green bonds” under its Sustainable Finance Framework, including “high-yield” covenants and pursuant to Regulation S.
- in its private placement of US$150 million 11% senior notes due 2022, including “high-yield” covenants and pursuant to Regulation S.
- in its offering of US$250 million 7.5% senior notes due 2022, including “high-yield” covenants and pursuant to Regulation S.
- in 1) its offering of additional US$200 million 9.5% senior notes due 2022, which are consolidated and forms a single series with the US$200 million 9.5% senior notes due 2022, pursuant to Regulation S and 2)its concurrent offer to purchase for cash for its 8.75% senior notes due 2021.
- in its offering of additional US$50 million 9.5% senior notes due 2022, which are consolidated and form a single series with its US$200 million 9.5% senior notes due 2022, including “high-yield” covenants and pursuant to Regulation S.
- in its private placement of US$200 million 8.875% senior notes due 2021, including “high-yield” covenants and pursuant to Regulation S.
- in its offering of additional US$50 million 9.5% senior notes due 2022, which are consolidated and form a single series with its US$200 million 9.5% senior notes due 2022, including “high-yield” covenants and pursuant to Regulation S.
- in its offering of US$200 million 9.5% senior notes due 2022, including “high-yield” covenants and pursuant to Regulation S.
- in its offering of US$250 million 8.75% senior notes due 2021, including “high-yield” covenants and pursuant to Regulation S.
- in its private placement of US$200 million 9.75% senior notes due 2020, including “high-yield” covenants and pursuant to Regulation S.
- in its offering of additional US$100 million 11.5% senior notes due 2021, which are consolidated and form a single series with its US$300 million 11.5% senior notes due 2021, including “high-yield” covenants and pursuant to Regulation S.
- in its offering of US$300 million 11.50% senior notes due 2021, including “high-yield” covenants and pursuant to Regulation S.

Zhenro Properties Group Limited
- in its offering of US$250 million 6.5% senior notes due 2022, which are issued as “green bonds” under its green bond framework, including “high-yield” covenants and pursuant to Regulation S.
- in its offering of additional RMB 300 million 7.125% senior notes due 2022, which are dim sum bonds and issued as “green bonds” under its green bond framework. The notes are consolidated and form a single series with its RMB1.3 billion 7.125% senior notes due 2022, including “high-yield” covenants and pursuant to Regulation S.
- in its offering of RMB 1.3 billion 7.125% senior notes due 2022, which are dim sum bonds and issued as “green bonds” under its green bond framework, including “high-yield” covenants and pursuant to Regulation S.
- in its offering of RMB 1.3 billion 7.125% senior notes due 2022, which are dim sum bonds and issued as “green bonds” under its green bond framework, including “high-yield” covenants and pursuant to Regulation S.
- in its offering of US$340 million 7.1% senior notes due 2024, which are issued as “green bonds” under its green bond framework, including “high-yield” covenants and pursuant to Regulation S.
- in its offering of US$220 million 5.98 % senior notes due 2022, which are issued as “green bonds” under its green bond framework, including “high-yield” covenants and pursuant to Regulation S.
- in ZhenAn Glory Investment Limited’s offering of US$50 million 5.95% senior notes due 2022, guaranteed by Zhenro Properties Group Limited, including “high-yield” covenants and pursuant to Regulation S.
- in its offering of US$300 million 6.7 % senior notes due 2026, which are issued as “green bonds” under its green bond framework, including “high-yield” covenants and pursuant to Regulation S.
- in its offering of US$400 million 6.63 % senior notes due 2026, which are issued as “green bonds” under its green bond framework, including “high-yield” covenants and pursuant to Regulation S.
- in its offering of RMB 1 billion 7.4% senior notes due 2021, including “high-yield” covenants and pursuant to Regulation S.
- in its offering of US$200 million 8.3% senior notes due 2023, including “high-yield” covenants and pursuant to Regulation S.
- in its offering of US$200 million 5.6% senior notes due 2021, including “high-yield” covenants and pursuant to Regulation S.
- in its offering of US$290 million 7.875% senior notes due 2024, including “high-yield” covenants and pursuant to Regulation S.
- in its offering of RMB700 million 8.0% senior notes due 2020, including “high-yield” covenants and pursuant to Regulation S.
- in its offering of US$300 million 9.15% senior notes due 2023, including “high-yield” covenants and pursuant to Regulation S.
- in its offering of US$300 million 8.7% senior notes due 2022, including “high-yield” covenants and pursuant to Regulation S.
- in its offering of additional US$110 million 9.15% senior notes due 2022, which are consolidated and form a single series with its US$200 million 9.15% senior notes due 2022, including “high-yield” covenants and pursuant to Regulation S.
- in its offering of US$200 million senior perpetual capital securities.
- in its offering of US$420 million 8.65% senior notes due 2023, including “high-yield” covenants and pursuant to Regulation S.
- in its offering of US$200 million 9.15% senior notes due 2022, including “high-yield” covenants and pursuant to Regulation S.
- in its offering of US$230 million 9.8% senior notes due 2021, including “high-yield” covenants and pursuant to Regulation S.
- in its offering of additional US$150 million 10.5% senior notes due 2020, which are consolidated and form a single series with its US$250 million 10.5% senior notes due 2020, including “high-yield” covenants and pursuant to Regulation S.
- in its offering of US$200 million 8.6% senior notes due 2020, including “high-yield” covenants and pursuant to Regulation S.
- in its offering of an additional US$70 million 12.5% senior notes due 2021, which are consolidated and form a single series with its US$280 million 12.5% senior notes due 2021, including “high-yield” covenants and pursuant to Regulation S.
- in its offering of US$280 million 12.5% senior notes due 2021, including “high-yield” covenants and pursuant to Regulation S.
- in its offering of US$250 million 10.5% senior notes due 2020, including high-yield covenants and pursuant to Regulation S.
- in its private placement of US$160 million 8.5% senior notes due 2019, including high-yield covenants and pursuant to Regulation S, to several investors.

Shinsun Holdings (Group) Co., Ltd
- in its offering of US$200 million 12% senior notes due 2023, which are issued as “sustainable bonds” under its sustainable finance framework, including “high-yield” covenants and pursuant to Regulation S.
- in its offering of US$200 million 10.5% senior notes due 2022, which are issued as “sustainable bonds” under its sustainable finance framework, including “high-yield” covenants and pursuant to Regulation S.
- in its private placement of US$200 million 11% senior notes due 2021 through its wholly owned subsidiary, Xiang Sheng Overseas Limited, pursuant to Regulation S.
- in its private placement of additional US$97 million 12.5% senior notes due 2022 through its wholly owned subsidiary, Xiang Sheng Holding Limited, which are consolidated and form a single series with its original US$203 million 12.5% senior notes due 2022, pursuant to Regulation S.
- in its private placement of additional US$53 million 12.5% senior notes due 2022 through its wholly owned subsidiary, Xiang Sheng Holding Limited, which are consolidated and form a single series with its original US$150 million 12.5% senior notes due 2022, pursuant to Regulation S.
- in its private placement of US$150 million 12.5% senior notes due 2022 through its wholly owned subsidiary, Xiang Sheng Holding Limited.

Fantasia Holdings Group Co., Limited
- in connection with its private issuance of US$80 million 13.0% senior notes due 2022 through its offshore subsidiary, Colour Life Services Group Co., Limited, as the issuer, including “high-yield” covenants and pursuant to Regulation S.
- in its issuance of additional US$100 million 11.875% senior notes due 2023, which are consolidated and form a single series with its US$450 million 11.875% senior notes due 2023, including “high-yield” covenants and pursuant to Regulation S.
- in its tender offer to purchase for cash for its US$500 million principal amount of 7.375% senior notes due 2021.
- in its private placement of US$50 million 14.5% senior notes due 2022, including “high-yield” covenants and pursuant to Regulation S.
- in its offering of US$250 million 10.875% senior notes due 2024, including “high-yield” covenants and pursuant to Regulation S.
- in its issuance of additional US$150 million 11.875% senior notes due 2023, which are consolidated and form a single series with its US$300 million 11.875% senior notes due 2023, including “high-yield” covenants and pursuant to Regulation S.
- in its issuance of additional US$100 million 6.95% senior notes due 2021, which are consolidated and form a single series with its US$150 million 6.95% senior notes due 2021, including “high-yield” covenants and pursuant to Regulation S.
- in its offering of US$150 million 6.95% senior notes due 2021, including “high-yield” covenants and pursuant to Regulation S.
- in its offering of additional US$120 million 9.875% senior notes due 2023, which are consolidated and form a single series with its US$200 million 9.875% senior notes due 2023, including “high-yield” covenants and pursuant to Regulation S.
- in its offering of US$50 million 6.0% senior notes due 2021, including “high-yield” covenants and pursuant to Regulation S.
- in its offering of US$100 million 5.5% senior notes due 2020, including “high-yield” covenants and pursuant to Regulation S.
- in its offering of additional US$200 million 7.95% senior notes due 2022, which are consolidated and form a single series with its US$300 million 7.95% senior notes due 2022, including “high-yield” covenants and pursuant to Regulation S.
- in its offering of US$350 million 9.25% senior notes due 2023, including “high-yield” covenants and pursuant to Regulation S.
- in Colour Life Services Group Co., Limited’s private placement of US$130 million 10% senior notes due 2021, guaranteed by Fantasia Holdings Group Co., Limited, including “high-yield” covenants and pursuant to Regulation S.
- in its offering of US$300 million 11.875% senior notes due 2023, including “high-yield” covenants and pursuant to Regulation S.
- in its offering of additional US$150 million 12.25% senior notes due 2022, which are consolidated and form a single series with its US$200 million 12.25% senior notes due 2022, including “high-yield” covenants and pursuant to Regulation S.
- in its offering of additional US$100 million 11.75% senior notes due 2022, which are consolidated and form a single series with its US$200 million 11.75% senior notes due 2022, including “high-yield” covenants and pursuant to Regulation S.
- in its offering of US$200 million 12.25% senior notes due 2022, including “high-yield” covenants and pursuant to Regulation S.
- in its offering of US$200 million 11.75% senior notes due 2022, including “high-yield” covenants and pursuant to Regulation S.
- in its offering of CNY 1 billion 11.875% senior notes due 2020, including “high-yield” covenants and pursuant to Regulation S.
- in its offering of additional US$100 million 15% senior notes due 2021, which are consolidated and form a single series with its US$200 million 15% senior notes due 2021, including “high-yield” covenants and pursuant to Regulation S.
- in its offering of additional US$70 million 15.0% senior notes due 2021, which are consolidated and form a single series with its US$130 million 15.0% senior notes due 2021, including “high-yield” covenants and pursuant to Regulation S.
- in its offering of US$130 million 15% senior notes due 2021, including “high-yield” covenants and pursuant to Regulation S.
- in its offering of US$140 million 12% senior notes due 2019, including “high-yield” covenants and pursuant to Regulation S.
- in its offering of US$100 million 8.5% senior notes due 2019, including high-yield covenants and pursuant to Regulation S.
- in its offering of an additional US$150 million 8.375% senior notes due 2021, which are consolidated and form a single series with its US$450 million 8.375% senior notes due 2021, including high-yield covenants and pursuant to Regulation S.
- in its offering of US$350 million 8.375% senior notes due 2021, including high-yield covenants and pursuant to Regulation S.
- in its offering of US$300 million 7.95% senior notes due 2022, including high-yield covenants and pursuant to Regulation S.
- in its offering of US$350 million 5.50% senior notes due 2018, including high-yield covenants and pursuant to Regulation S.
- in its offering of an additional US$100 million 7.375% senior notes due 2021, which is consolidated and forms a single series with its US$400 million 7.375% senior notes due 2021, including high-yield covenants and pursuant to Regulation S.
- in connection with its additional offering of RMB1 billion 9.5% senior notes due 2019, including high-yield covenants and pursuant to Regulation S.
- in its offering of US$300 million 10.625% senior notes due 2019, including high-yield covenants and pursuant to Regulation S.

CSSC (Hong Kong) Shipping Company Limited
- in connection with its offering through its direct wholly-owned subsidiary, CSSC Capital 2015 Limited, as the issuer of US$500 million 2.1% guaranteed bonds due 2026, which are issued as “green bonds” under its green bond framework, pursuant to Regulation S.
- in connection with its offering through its direct wholly-owned subsidiary, CSSC Capital 2015 Limited, as the issuer of 1) US$400 million 2.5% guaranteed bonds due 2025; 2) US$400 million 3% guaranteed bonds due 2030, both pursuant to Regulation S.

Sunkwan Properties Group Limited
- in its offering of US$210 million 12.25% green senior notes due 2022, which are issued as “green notes” under its green finance framework, including “high-yield” covenants and pursuant to Regulation S.
- in its offering of US$185 million 12.75% senior notes due 2022, including “high-yield” covenants and pursuant to Regulation S.

Guangzhou R&F Properties Co., Ltd.
- in connection with its offering of an additional US$175 million 11.75% senior notes due 2023 through its offshore subsidiary, Easy Tactic Limited, as the issuer, which are consolidated and form a single series with its US500 million 11.75% senior notes due 2023, including “high-yield” covenants and pursuant to Regulation S.
- in the private placement of US$250 million variable fixed rate senior notes due 2021 issued by its subsidiary, Easy Tactic Limited, pursuant to Regulation S, which transaction is linked to US$150 million leveraged notes due 2021 issued by J.P. Morgan Structured Products B.V.
- in connection with its offering of US$325 million 11.625% senior notes due 2024 through its offshore subsidiary Easy Tactic Limited as the issuer, including “high-yield” covenants and pursuant to Regulation S.
- in the private placement of US$200 million 12.0% senior notes due 2021 by its subsidiary, Globe Times Investments Limited, pursuant to Regulation S.
- in connection with its offering of US$360 million 12.375% senior notes due 2022 through its offshore subsidiary Easy Tactic Limited as the issuer, including “high-yield” covenants and pursuant to Regulation S.
- in connection with its offering of US$450 million 8.125% senior notes due 2024 through its offshore subsidiary Easy Tactic Limited as the issuer, including “high-yield” covenants and pursuant to Regulation S.
- in connection with its offering of an additional US$425 million 8.125% senior notes due 2023 through its offshore subsidiary, Easy Tactic Limited, as the issuer, which are consolidated and form a single series with its US$450 million 8.125% senior notes due 2023, including “high-yield” covenants and pursuant to Regulation S.
- in connection with its offering of US$450 million 8.125% senior notes due 2023 and US$375 million 8.625% senior notes due 2024 through its offshore subsidiary Easy Tactic Limited as the issuer, all including “high-yield” covenants and pursuant to Regulation S.
- in connection with its offering of US$300 million 9.125% senior notes due 2022 through its offshore subsidiary Easy Tactic Limited as the issuer, including “high-yield” covenants and pursuant to Regulation S.
- in connection with its offering of an additional US$200 million 8.75% senior notes due 2021 through its offshore subsidiary Easy Tactic Limited, as the issuer, which are consolidated and form a single series with its US$500 million 8.75% senior notes due 2021, including “high-yield” covenants and pursuant to Regulation S.
- in connection with its offering of US$500 million 8.75% senior notes due 2021 through its offshore subsidiary Easy Tactic Limited as the issuer, including “high-yield” covenants and pursuant to Regulation S.
- in connection with its offering of US$300 million 7.50% Senior Notes due 2019 through one of its wholly owned subsidiaries, Trillion Chance Limited, as the issuer, including “high-yield” covenants and pursuant to Regulation S.
- in connection with its offering of US$200 million 8.875% Senior Notes due 2021 through its offshore subsidiary Easy Tactic Limited as the issuer, including “high-yield” covenants and pursuant to Regulation S.
- in connection with its offering of an additional US$200 million 7% senior notes due 2021 through its offshore subsidiary, Easy Tactic Limited, as the issuer, which are consolidated and form a single series with its US$600 million 7% senior notes due 2021, including high-yield covenants and pursuant to Regulation S.
- in connection with its tender of up to US$400 million principal amount of 5.25% senior notes issued by its offshore subsidiary Trillion Chance Limited and its concurrent new offering of US$600 million 7% senior notes due 2021 through its offshore subsidiary Easy Tactic Limited as the issuer, including high-yield covenants and pursuant to Regulation S. The tender offer included incentives for existing holders to “roll over” into the new notes.
- in connection with its offering of US$350 million 5.0% senior notes due 2019 through one of its wholly owned subsidiaries, Trillion Chance Limited, as the issuer, including high-yield covenants and pursuant to Regulation S.
- in its offering of US$265 million 5.75% senior notes due 2022, including high-yield covenants and pursuant to Regulation S.
- in its offering of an additional US$460 million 5.75% senior notes due 2022 pursuant to an upsize option, which is consolidated and forms a single series with its US$265 million 5.75% senior notes due 2022, including high-yield covenants and pursuant to Regulation S.

China Oil And Gas Group Limited
- in its offering of US$400 million 4.7% senior notes due 2026, including “high-yield” covenants and pursuant to Regulation S.
- in its offering of additional US$30 million 5.5% senior notes due 2023, which are consolidated and form a single class with its US$320 million 5.5% senior notes due 2023, including “high-yield” covenants and pursuant to Regulation S.
- in its offering of US$320 million 5.5% senior notes due 2023, including “high-yield” covenants and pursuant to Regulation S.
- in its offering of US$350 million 4.625% senior notes due 2022, including high-yield covenants and pursuant to Regulation S.
- in its offering of US$300 million 5% senior notes due 2020, including high-yield covenants and pursuant to Regulation S.
- in its offering of US$350 million 5.25% senior notes due 2018, including high-yield covenants and pursuant to Regulation S and Rule 144A.

Skyfame Realty (Holdings) Limited
- in its offering of additional US$100 million 13% senior notes due 2023, which are consolidated and form a single series with its US$192 million 13% senior notes due 2023, including “high-yield” covenants and pursuant to Regulation S.
- in its offering of additional US$112 million 13% senior notes due 2023, which are consolidated and form a single series with its US$80 million 13% senior notes due 2023, including “high-yield” covenants and pursuant to Regulation S.
- in its offering of US$80 million 13.0% senior notes due 2023, including “high-yield” covenants and pursuant to Regulation S.
- in its offering of US$87.5 million 13.0% senior notes due 2021, including “high-yield” covenants and pursuant to Regulation S.
- in its offering of US$69 million 13.0% senior notes due 2022, including “high-yield” covenants and pursuant to Regulation S.
- in its offering of additional US$100 million 13% senior notes due 2022, which are consolidated and form a single series with its US$105 million 13% senior notes due 2022, including “high-yield” covenants and pursuant to Regulation S.
- in its offering of US$105 million 13.0% senior bonds due 2022, including “high-yield” covenants and pursuant to Regulation S.
- in its private placement of US$30 million 10.0% senior bonds due 2019, including “high-yield” covenants and pursuant to Regulation S.

E-House (China) Enterprise Holdings Limited
- BOC International, Credit Suisse, Citigroup, as joint global coordinators, joint lead managers and joint bookrunners, BofA Securities, Central Wealth Securities Investment Limited, CICC, CRIC Securities, CSFG, Deutsche Bank, Haitong International, Orient Securities (Hong Kong), UBS, Valuable Capital Limited, Vision Capital International as joint lead managers and joint bookrunners, in connection with E-House (China) Enterprise Holdings Limited’s offering of US$100 million 7.6% senior notes due 2023, including “high-yield” covenants and pursuant to Regulation S. The additional bonds are consolidated and form a single series with its US$200 million 7.6% senior notes due 2023.
- BOC International, Citigroup, Credit Suisse, Vision Capital as joint global coordinators, joint lead managers and joint bookrunners, CMB International, CRIC Securities, DBS Bank, Haitong International, Nomura, Orient Securities (Hong Kong), Valuable Capital Limited as joint lead managers and joint bookrunners, in connection with E-House (China) Enterprise Holdings Limited’s offering of US$200 million 7.6% senior notes due 2023, including “high-yield” covenants and pursuant to Regulation S.
- BOC International, Citigroup, CRIC Securities, Valuable Capital Limited as joint global coordinators, joint lead managers and joint bookrunners, and AMTD, Central Wealth Securities, CMBC Capital, CMB International, Haitong International, Orient Securities, Soochow Securities International, Vision Capital International as joint lead managers and joint bookrunners, in connection with E-House (China) Enterprise Holdings Limited’s offering of US$100 million 7.625% senior notes due 2022, including “high-yield” covenants and pursuant to Regulation S. The additional bonds are consolidated and form a single series with its US$200 million 7.625% senior notes due 2022.

Hong Kong JunFa Property Company Limited
- in connection with its offering of an additional US$116 million 11.0% senior notes due 2022 through its wholly owned subsidiary, Power Best Global Investments Limited, as the issuer, which are consolidated and form a single series with its US$121 million 11.0% senior notes due 2022, including “high-yield” covenants and pursuant to Regulation S.
- in connection with its offering of US$121 million 11% senior notes due 2022 through its wholly owned subsidiary Power Best Global Investments Limited, as the issuer, including “high-yield” covenants and pursuant to Regulation S.
- in connection with its offering of an additional US$111 million 13.0% senior notes due 2021 through its wholly owned subsidiary, Power Best Global Investments Limited, as the issuer, which are consolidated and form a single series with its US$100 million 13.0% senior notes due 2021, including “high-yield” covenants and pursuant to Regulation S.
- in connection with its offering of US$100 million 13% bonds due 2021 through its wholly owned subsidiary Power Best Global Investments Limited, as the issuer, including “high-yield” covenants and pursuant to Regulation S.

Dexin China Holdings Company Limited
- in its offering of additional US$150 million 9.95% senior notes due 2022, which are consolidated and forms a single series with the US$200 million 9.95% senior notes due 2022, pursuant to Regulation S.
- in its offering of US$200 million 11.875% senior notes due 2022, including “high-yield” covenants and pursuant to Regulation S.
- in its offering of additional US$100 million 12.875% senior notes due 2021, which are consolidated and forms a single series with the US$200 million 12.875% senior notes due 2021, pursuant to Regulation S.
- in its offering of US$200 million 12.875% senior notes due 2021, including “high-yield” covenants and pursuant to Regulation S.

Tahoe Group Co., Ltd
- in connection with its offering of US$400 million 15% senior notes due 2022through its subsidiary, Tahoe Group Global (Co.,) Limited, as the issuer, including “high-yield” covenants and pursuant to Regulation S.
- in connection with its offering of an additional US$100 million 7.875% senior notes due 2021 through its subsidiary, Tahoe Group Global (Co.,) Limited, as the issuer, which are consolidated and form a single series with its US$230 million and US$200 million 7.875% senior notes due 2021, including high-yield covenants and pursuant to Regulation S.
- in connection with its offering of an additional US$230 million 7.875% senior notes due 2021 through its subsidiary, Tahoe Group Global (Co.,) Limited, as the issuer, which are consolidated and form a single series with its US$200 million 7.875% senior notes due 2021, including high-yield covenants and pursuant to Regulation S.
- in connection with its private placement of US$50 million 11.0% guaranteed senior notes due 2021 through its subsidiary, Tahoe Group Global (Co.,) Limited, as the issuer, including “high-yield” covenants and pursuant to Regulation S.
- in connection with its offering of an additional US$38.27 million 11.0% senior notes due 2020 through its subsidiary, Tahoe Group Global (Co.,) Limited, as the issuer, which are consolidated and form a single series with its US$110.5 million 11.0% senior notes due 2020, including “high-yield” covenants and pursuant to Regulation S.
- in connection with its offering of US$110.5 million 11.0% senior notes due 2020 through its subsidiary, Tahoe Group Global (Co.,) Limited, as the issuer, including “high-yield” covenants and pursuant to Regulation S.
- in connection with its offering of an additional US$100 million 11.25% senior notes due 2020 through its subsidiary, Tahoe Group Global (Co.,) Limited, as the issuer, which are consolidated and form a single series with its US$100 million 11.25% senior notes due 2020, including “high-yield” covenants and pursuant to Regulation S.
- in connection with its offering of US$100 million 11.25% senior notes due 2020 through its subsidiary, Tahoe Group Global (Co.,) Limited, as the issuer, including “high-yield” covenants and pursuant to Regulation S.

China Fortune Land Development Co., Ltd
- in its private placement of US$340 million 10.875% guaranteed bonds due 2021 through its wholly owned subsidiary, CFLD (Cayman) Investment Ltd., pursuant to Regulation S.
- in connection with its offering of an additional US$60 million 8.05% guaranteed bonds due 2025 through its wholly owned subsidiary CFLD (Cayman) Investment Ltd, as the issuer, which are consolidated and form a single series with its US$700 million 8.05% guaranteed bond due 2025, pursuant to Regulation S.
- in connection with its offering of US$300 million 6.92% bonds due 2022 through its wholly owned subsidiary CFLD (Cayman) Investment Ltd, as the issuer, pursuant to Regulation S.
- in connection with its US$1.2 billion dual-tranche bond offering, including offering of US$500 million 6.9% guaranteed bonds due 2023 and US$700 million 8.05% guaranteed bonds due 2025, through its wholly owned subsidiary CFLD (Cayman) Investment Ltd. as the issuer, pursuant to Regulation S.
- in connection with its offering of US$350 million 7.125% senior notes due 2022 and US$650 million 8.6% senior notes due 2024 through its wholly owned subsidiary CFLD (Cayman) Investment Ltd. as the issuer, all pursuant to Regulation S.
- in connection with its offering of US$530 million 8.625% bonds due 2021 through its wholly owned subsidiary CFLD (Cayman) Investment Ltd, as the issuer, pursuant to Regulation S.
- in connection with its offering of an additional US$100 million 6.5% guaranteed bonds due 2020 through its wholly owned subsidiary CFLD (Cayman) Investment Ltd, as the issuer, which are consolidated and form a single series with its US$820 million 6.5 guaranteed bond due 2020, pursuant to Regulation S.
- in connection with its offering of US$60 million 9.0% guaranteed bonds due 2021 through its wholly owned subsidiary CFLD (Cayman) Investment Ltd, as the issuer, pursuant to Regulation S.
- in connection with its offering of an additional US$150 million 9.0% guaranteed bonds due 2021 through its wholly owned subsidiary CFLD (Cayman) Investment Ltd, as the issuer, which are consolidated and form a single series with its US$800 million 9.0% guaranteed bonds due 2021, pursuant to Regulation S.
- in connection with its offering of an additional US$70 million 9.0% guaranteed bonds due 2021 through its wholly owned subsidiary CFLD (Cayman) Investment Ltd, as the issuer, which are consolidated and form a single series with its US$730 million 9.0% guaranteed bonds due 2021, pursuant to Regulation S.
- in connection with its offering of an additional US$50 million 6.5% guaranteed bonds due 2020 through its wholly owned subsidiary CFLD (Cayman) Investment Ltd, as the issuer, which are consolidated and form a single series with its US$770 million 6.5 guaranteed bond due 2020, pursuant to Regulation S.
- in connection with its offering of an additional US$100 million 9.0% guaranteed bonds due 2021 through its wholly owned subsidiary CFLD (Cayman) Investment Ltd, as the issuer, which are consolidated and form a single series with its US$630 million 9.0% guaranteed bonds due 2021, pursuant to Regulation S.
- in connection with its offering of an additional US$50 million 6.5% guaranteed bonds due 2020 through its wholly owned subsidiary CFLD (Cayman) Investment Ltd, as the issuer, which are consolidated and form a single series with its US$720 million 6.5% guaranteed bonds due 2020, pursuant to Regulation S.
- in connection with its offering of an additional US$100 million 9.0% guaranteed bonds due 2021 through its wholly owned subsidiary CFLD (Cayman) Investment Ltd, as the issuer, which are consolidated and form a single series with its US$530 million 9.0% guaranteed bonds due 2021, pursuant to Regulation S.
- in connection with its offering of an additional US$70 million 6.5% guaranteed bonds due 2020 through its wholly owned subsidiary CFLD (Cayman) Investment Ltd, as the issuer, which are consolidated and form a single series with its US$650 million 6.5% guaranteed bonds due 2020, pursuant to Regulation S.
- in connection with its offering of an additional US$100 million 9.0% guaranteed bonds due 2021 through its wholly owned subsidiary CFLD (Cayman) Investment Ltd, as the issuer, which are consolidated and form a single series with its US$430 million 9.0% guaranteed bonds due 2021, pursuant to Regulation S.
- in connection with its offering of an additional US$120 million 9.0% guaranteed bonds due 2021 through its wholly owned subsidiary CFLD (Cayman) Investment Ltd, as the issuer, which are consolidated and form a single series with its US$310 million 9.0% guaranteed bonds due 2021, pursuant to Regulation S.
- in connection with its offering of US$200 million 9.0% guaranteed bonds due 2021 through its wholly owned subsidiary CFLD (Cayman) Investment Ltd, as the issuer, pursuant to Regulation S.

Sinic Holdings (Group) Company Limited
- in its offering of US$250 million 9.5% senior notes due 2021, including “high-yield” covenants and pursuant to Regulation S.
- in its offering of US$210 million 10.5% senior notes due 2022, including “high-yield” covenants and pursuant to Regulation S.
- in its offering of US$280 million 11.75% senior notes due 2021, including “high-yield” covenants and pursuant to Regulation S.

Tingyi (Cayman Islands) Holding Corporation
- in its offering of US$500 million 1.625% bonds due 2025, pursuant to Regulation S.
- in connection with the offering of RMB1 billion 4.375% notes due 2018, pursuant to Regulation S.
- in connection with the offering of US$500 million 3.875% notes due 2017, pursuant to Regulation S.

RiseSun Real Estate Development Co., Ltd
- in connection with its offering of US$300 million 8.75% bonds due 2021 through its wholly-owned subsidiary, RongXingDa Development (BVI) Limited, as the issuer, including “high-yield” covenants and pursuant to Regulation S.
- in connection with its offering of an additional US$175 million 8% senior notes due 2022 through its wholly owned subsidiary RongXingDa Development (BVI) Limited, as the issuer, which are consolidated and form a single series with its US$325 million 8% senior notes due 2022, pursuant to Regulation S.
- in connection with its offering of US$325 million 8% bonds due 2022 through its wholly-owned subsidiary, RongXingDa Development (BVI) Limited, as the issuer, including “high-yield” covenants and pursuant to Regulation S.
- in connection with its offering of US$250 million 9.0% bonds due 2021 through its wholly-owned subsidiary, RongXingDa Development (BVI) Limited, as the issuer, including “high-yield” covenants and pursuant to Regulation S.

Radiance Group Co., Ltd
- in connection with its offering of US$250 million 8.8% senior notes due 2023 through its wholly owned subsidiary, Radiance Capital Investments Limited, as the issuer, including “high-yield” covenants and pursuant to Regulation S.
- in connection with its offering of US$300 million 10.5% senior notes due 2022 through its wholly owned subsidiary, Radiance Capital Investments Limited, as the issuer, including “high-yield” covenants and pursuant to Regulation S.
- in connection with its offering of US$250 million 11.75% senior notes due 2021 through its wholly owned subsidiary, Radiance Capital Investments Limited, as the issuer, including “high-yield” covenants and pursuant to Regulation S.

Landsea Green Group Co., Ltd.
- in its offering of US$200 million 10.75 % senior notes due 2022, which are issued as “green bonds” under its green bond framework, including “high-yield” covenants and pursuant to Regulation S.
- in its offering of US$200 million 10.5 % senior notes due 2022, which are issued as “green bonds” under its green bond framework, including “high-yield” covenants and pursuant to Regulation S.
- in its offering of US$150 million 9.625% senior notes due 2020, which are issued as “green bonds” under its green bond framework, including high-yield covenants and pursuant to Regulation S.

Longfor Group Holdings Limited
- Citigroup, Goldman Sachs, Haitong International, HSBC and Morgan Stanley as joint global coordinators, joint lead managers and joint bookrunners, CICC and Credit Suisse as joint lead managers and joint bookrunners, in connection with Longfor Group Holdings Limited’s offering of 1) US$250 million 3.375% senior notes due 2027, and 2) US$400 million 3.85% senior notes due 2032, all pursuant to Regulation S.
- Citigroup, Goldman Sachs(Asia) L.L.C., Haitong International, HSBC, Morgan Stanley as joint global coordinators, joint lead managers and joint bookrunners, Barclays and China International Capital Corporation as joint lead managers and joint bookrunners, in connection with Longfor Group Holdings Limited’s offering of US$850 million 3.95% senior notes due 2029, pursuant to Regulation S.

Xinyuan Real Estate Co., Ltd.
- in its offering of additional US$100 million 14.2% senior notes due 2021, which are consolidated and form a single series with its US$200 million 14.2% senior notes due 2021, including “high-yield” covenants and pursuant to Regulation S.
- in its offering of US$200 million 9.875% senior notes due 2020, including high-yield covenants and pursuant to Regulation S.
- in its offering of US$300 million 7.75% senior notes due 2021, including high-yield covenants and pursuant to Regulation S.
- in connection with its offering of US$300 million 8.125% senior notes due 2019, including high-yield covenants and pursuant to Regulation S.
- in its offering of US$200 million 13% senior notes due 2019, including high-yield covenants and pursuant to Regulation S.

Chengdu Economic and Technological Development Zone State-owned Assets Investment Co., Ltd
- in its offering of an additional US$250 million 7.5% bonds due 2022, , which are consolidated and forms a single series with its US$250 million 7.5% senior notes due 2022, pursuant to Regulation S.
- in its offering of US$250 million 7.5% bonds due 2022, pursuant to Regulation S.

Ronshine China Holdings Limited
- in its offering of an additional US$150 million 8.25% senior notes due 2021, which are consolidated and form a single series with its US$650 million 8.25% senior notes due 2021, including “high-yield” covenants and pursuant to Regulation S.
- in its offering of an additional US$225 million 8.25% senior notes due 2021, which are consolidated and form a single series with its US$325 million 8.25% senior notes due 2021, including “high-yield” covenants and pursuant to Regulation S.
- in its offering of an additional US$100 million 8.25% senior notes due 2021, which are consolidated and form a single series with its US$325 million 8.25% senior notes due 2021, including high-yield covenants and pursuant to Regulation S.
- in its offering of US$325 million 8.25% senior notes due 2021, including high-yield covenants and pursuant to Regulation S.
- in its private placement of US$150 million 6.5% senior notes due 2018, including high-yield covenants and pursuant to Regulation S.
- in its private placement of senior notes, including high-yield covenants and pursuant to Regulation S.
- in its offering of US$175 million 6.95% senior notes due 2019, including high-yield covenants and pursuant to Regulation S.

Powerlong Real Estate Holdings Limited
- in its offering of an additional US$250 million 5.95% senior notes due 2020, which are consolidated and form a single series with its US$200 million and US$100 million 5.95% senior notes due 2020, including “high-yield” covenants and pursuant to Regulation S.
- in its proposed issuing of HK$1.99 billion zero coupon guaranteed convertible bonds due 2019.

Times Property Holdings Limited
- in its offering of US$225 million 5.75% senior notes due 2022, including high-yield covenants and pursuant to Regulation S.
- in its offering of US$375 million 6.25% senior notes due 2020, including high-yield covenants and pursuant to Regulation S.

KWG Property Holdings Limited
- in its offering of US$250 million 5.2% senior notes due 2022, including high-yield covenants and pursuant to Regulation S.
- in its private placement of an additional US$100 million 6.00% senior notes due 2022, which are to be consolidated and form a single class with its original US$400 million 6.00% senior notes due 2022, including high-yield covenants and pursuant to Regulation S.
- in its offering of US$400 million 6.00% senior notes due 2022, including high-yield covenants and pursuant to Regulation S.
- in its offering of US$250 million 6.00% senior notes due 2022, including high-yield covenants and pursuant to Regulation S.
- in its offering of US$600 million 8.975% senior notes due 2019, including high-yield covenants and pursuant to Regulation S.

China Logistics Property Holdings Co., Ltd
- in its offering of an additional US$100 million 8.0% senior notes due 2020, which are consolidated and form a single series with its US$100 million 8.0% senior notes due 2020, including high-yield covenants and pursuant to Regulation S.
- in its offering of US$100 million 8.0% senior notes due 2020, including high-yield covenants and pursuant to Regulation S.

China Huiyuan Juice Group Limited
- in its offering of an additional US$50 million 6.5% senior notes due 2020, which are consolidated and form a single series with its US$150 million 6.5% senior notes due 2020, including high-yield covenants and pursuant to Regulation S.
- in its offering of US$150 million 6.5% senior notes due 2020, including high-yield covenants and pursuant to Regulation S.
- in connection with its offering of €200 million 1.55% Credit Enhanced Bonds due 2018, with the benefit of an irrevocable standby letter of credit provided by Agricultural Bank of China Limited New York Branch, pursuant to Regulation S.

Shandong Ruyi Technology Group Co., Ltd.
- as the parent guarantor in connection with the offering of US$200 million 6.95% senior notes due 2022 by Prime Bloom Holdings Limited as the issuer, including high-yield covenants and pursuant to Regulation S.
- in its offering of an additional US$ 95 million 7.5% senior notes due 2019, which is consolidated and forms a single series with its US$250 million 7.5% senior notes due 2019, including high-yield covenants and pursuant to Regulation S.
- in its offering of US$250 million 7.5% senior notes due 2019 by Prime Bloom Holdings Limited, including high-yield covenants and pursuant to Regulation S.

Logan Property Holdings Company Limited
- Credit Suisse, BOC International, China International Capital Corporation, CRIC Securities, CMBC Capital as joint global coordinators, joint lead managers and joint bookrunners, and Central Wealth Securities, China Investment Securities International, China Merchants Securities, CMB International, CMB Wing Lung Bank, DBS Bank Everbright Sun Hung Kai, Founder Securities, Future Land Resources, Orient Securities, SPDB International, UBS as joint lead managers and joint bookrunners, in connection with E-House (China) Enterprise Holdings Limited’s offering of US$200 million 7.625% senior notes due 2022, including “high-yield” covenants and pursuant to Regulation S.
- Credit Suisse, BOC International, China International Capital Corporation, China Merchants Securities, CRIC Securities, Founder Securities, Guotai Junan International, Haitong International, HSBC, Orient Securities, UBS and Zhongtai International as joint lead managers, in connection with E-House (China) Enterprise Holdings Limited’s offering of US$200 million 7.75% senior notes due 2021, including “high-yield” covenants and pursuant to Regulation S.
- in its offering of US$450 million 5.25% senior notes due 2023, including high-yield covenants and pursuant to Regulation S.
- in its offering of US$200 million 5.75% senior notes due 2022, including high-yield covenants and pursuant to Regulation S.

TaiChen Development (BVI) Limited in its offering of US$31.1 million 12.5% senior notes due 2022, guaranteed by Longjitaihe Property Co., Ltd, including “high-yield” covenants and pursuant to Regulation S.
Shanghai Pudong Development Bank Hong Kong Branch and Fosun Hani as joint global coordinators, joint bookrunners and joint lead managers, China Zheshang Bank Co., Ltd. (Hong Kong Branch) and China Industrial Securities International as joint bookrunners and joint lead managers, in connection with Nanjing Niushoushan Cultural Tourism Group Company Limited’s offering of under Regulation S of US$150 million 2.05% credit enhanced bonds due 2024, backed by an Irrevocable Standby Letter of Credit issued by Bank of Jiangsu Co., Ltd. Nanjing Branch.
Shanghai Pudong Development Bank Co., Ltd., Hong Kong Branch as placing agent, in connection with Taikang International Finance Limited’s private placement of US$10 million 4.25% senior bonds due 2020 and US$40 million 4.5% senior bonds due 2021, with the benefit of keepwell deed provided by Taikang Insurance Group Inc. Both bonds are pursuant to Regulation S.
Joyful Richness Holdings Limited in its private placement of US$400 million 6.75% senior notes due 2021, guaranteed by Kaisa Group Holdings Limited, including “high-yield” covenants and pursuant to Regulation S.
Radiance Holdings (Group) Company Ltd, in connection with its offering of US$300 million 7.8% senior green notes due 2024, which are issued as “green bonds” under its Green Finance Framework, including “high-yield” covenants and pursuant to Regulation S.
China State Shipbuilding Corporation Limited in connection with its offering of 1) US$485 million 4.125% credit enhanced bonds due 2021 through its indirect wholly-owned subsidiary CSSC Capital One Limited, as the issuer, with the benefit of a USD Keepwell Deed provided by the company; 2) €300 million 1.75% credit enhanced bonds due 2023 through its indirect wholly-owned subsidiary CSSC Capital Two Limited, as the issuer, with the benefit of a Euro Keepwell Deed provided by the company. The bonds are pursuant to Regulation S.
Leading Holdings Group Limited in its offering of US$150 million 12.0% senior notes due 2022, including “high-yield” covenants and pursuant to Regulation S.
MicroPort Scientific Corporation in its offering US$700 million zero coupon convertible bonds due 2026.
AMTD Global Markets Limited as the sole placement agent in connection with Guangdong - Hong Kong Greater Bay Area Holdings Limited's (formerly known as Hydoo International Holding Limited) issuance of additional US$13.5 million 14% senior notes due 2021, which are consolidated with the outstanding US$280 million 14% senior notes due 2021, including “high-yield” covenants and pursuant to Regulation S.
Potomac Capital and AMTD as placement agents, in connection with Guangdong - Hong Kong Greater Bay Area Holdings Limited's (formerly known as Hydoo International Holding Limited) additional offering of US$36.5 million 14% senior notes due 2021, which are consolidated with the outstanding US$243.5 million 14% senior notes due 2021, including “high-yield” covenants and pursuant to Regulation S.
Ganglong China Property Group Limited in its offering of US$150 million 13.5% senior notes due 2021, including “high-yield” covenants and pursuant to Regulation S.
Shangrao City Construction Investment Development Group Company Limited in its offering of US$300 million 4.375% senior notes due 2023, pursuant to Regulation S.
Kaisa Group Holding Ltd. in its offering of US$200 million senior perpetual capital securities.
CCB International, Soochow Securities International, Central China International, China CITIC Bank International, Haitong International, CMB Wing Lung Bank Limited as joint global coordinators, joint lead managers and joint bookrunners, Orient Securities (Hong Kong), Guoyuan Capital, ICBC International, CMBC Capital, Central Wealth Securities Investment Limited as joint bookrunners and joint lead managers, in connection with Central China Securities Co., Ltd. offering of US$110 million 5.2% guaranteed bonds due 2021 through its wholly-owned subsidiary Wending Zhongyuan Company Limited as the issuer, guaranteed by Central China International Financial Holdings Company Limited and with the benefit of keepwell deed provided by Central China Securities Co., Ltd. The bonds are pursuant to Regulation S.
AMTD as sole arranger and Global Edge Opportunity Limited as initial purchasers, in connection with Hydoo International Holding Limited’s additional offering US$50 million 14% senior notes due 2021, which are consolidated with the outstanding US$193.5 million 14% senior notes due 2021, including “high-yield” covenants and pursuant to Regulation S.
Anton Oilfield Services Group in its offering of US$300 million 7.5% Senior Notes due 2022, including “high-yield” covenants, pursuant to Regulation S.
Shandong Chenming Paper Holdings Ltd. in connection with its offering of US$163 million 9% senior notes due 2022 through its indirect wholly owned subsidiary Meilun (BVI) Limited as the issuer, including “high-yield” covenants and pursuant to Regulation S.
BOCI Leveraged & Structured Finance Limited as settlement agent, in connection with Zhengzhou Zhongrui Industrial group Co., Ltd’s private placement of US$100 million 6% senior notes due 2022 through its wholly-owned subsidiary Zhongrui Industrial Group Limited as the issuer, pursuant to Regulation S.
A large Chinese real estate company in its offering of US$30 million 11.5% senior notes due 2019, including “high-yield” covenants and pursuant to Regulation S.
BOCI Asia, CMBC Securities, CRIC Securities, BOCOM International Securities, CCB International Capital, Central Wealth Securities, CICC Hong Kong Securities, CMB Wing Lung Bank, Fosun Hani Securities, Founder Securities and Orient Securities (Hong Kong) Limited as joint lead managers, in connection with E-House (China) Enterprise Holdings Limited’s additional offering of US$100 million 7.75% senior notes due 2021, including “high-yield” covenants and pursuant to Regulation S. The additional bonds are consolidated and form a single series with its US$200 million 7.75% senior notes due 2021.
Guangzhou Fineland Real Estate Development Co., Ltd, in its offering of US$300 million 13.5% senior notes due 2021, including “high-yield” covenants and pursuant to Regulation S.
BNP Paribas, China International Capital Corporation, CLSA, CMBC Capital, Haitong International, Orient Securities, Shenwan Hongyuan Securities, Silk Road International, UBS, Guotai Junan International and China Everbright Bank, as initial purchasers, in connection with Huayuan Property Co., Ltd’s offering of US$300 million 8.5% senior notes due 2021, including “high-yield” covenants and pursuant to Regulation S.
Zunyi Road and Bridge Construction (Group) Limited in its offering of US$120 million 8% bonds due 2022, pursuant to Regulation S.
UBS, China International Capital Corporation, CLSA, Silk Road International, Haitong International, CMBC Capital as underwriters, in connection with Huayuan Property Co., Ltd.’s offering of US$200 million 11% senior notes due 2021, including “high-yield” covenants and pursuant to Regulation S.
Fufeng Group Limited in its offering of US$350 million 5.875% investment grade bonds due 2021, pursuant to Regulation S.
An international investment bank as placing agent, in connection with Hydoo International Holding Limited’s private placement of additional US$27 million 12.0% senior notes due 2020, which are consolidated with the outstanding US$130 million notes, including “high-yield” covenants and pursuant to Regulation S.
Haitong International Securities Group Limited and Morgan Stanley as dealer managers, in connection with Hydoo International Holding Limited’s exchange offer for its existing US$160 million notes into US$104,107,000 12.0% senior notes due 2020 and Haitong International Securities Group Limited, Morgan Stanley and Potomac Capital Limited as joint lead managers, in connection with Hydoo International Holding Limited’s issuance of additional US$25,893,000 12.0% senior notes due 2020, pursuant to Regulation S.
Merrill Lynch, Haitong International Securities Group Limited, Credit Suisse, Standard Chartered, CLSA Limited, Orient Securities Company Limited, VTB Capital Hong Kong Limited and Shanghai Pudong Development Bank as underwriters, in connection with GCL New Energy Holdings Limited’s offering of US$500 million 7.1% senior notes due 2021, including high-yield covenants and pursuant to Regulation S.
Shandong Marine Group Ltd., in connection with its offering of US$200 million 5.45% guaranteed bonds due 2020 through one of its subsidiaries, SDOE International Finance I Company Limited, as the issuer, pursuant to Regulation S.
Guangdong Hengjian Investment Holding Co., Ltd, as the sponsor of the parent company, in connection with the issuance of Hengjian International Investment Holding (Hongkong) Limited’s US$500 million 2.75% secured notes due 2020 pursuant to Regulation S.
Morgan Stanley as underwriter in connection with China Jinjiang Environment Holding Company’s offering of US$200 million 6.0% senior notes due 2020, including high yield covenants and pursuant to Regulation S.
Yida China Holdings Limited in its offering of US$300 million 6.95% senior notes due 2020, including high-yield covenants and pursuant to Regulation S.
GOME Electrical Appliances Holding Limited in its offering of US$400 million 5.00% senior notes due 2020 pursuant to Regulation S.
L.R. Capital Global Markets, as issuer’s counsel in connection with the establishment of a US$500 million MTN Program, guaranteed by L.R. Capital Asia Markets Limited and with the benefit of a keepwell deed provided by L.R. Capital Financial Holdings Limited and a take-down under the MTN Program of US$150 million 5% guaranteed notes due 2019.
Landsea Green Properties Co., Ltd. in its issuance to a subsidiary of Pingan Real Estate Capital Limited of perpetual convertible securities in a principal amount of HK$130 million and new listed shares at a consideration of approximately HK$200 million.
China Orient Asset Management (International) Holding Limited as the originator, servicer and liquidity facility provider in the securitization of a portfolio of loans and bonds owned by China Orient Asset Management (International) Holding Limited’s affiliates. The US$164,926,000 securitization notes were sold to offshore investors pursuant to Regulation S through lead manager Standard Chartered Bank.
Morgan Stanley and SC Lowy as joint bookrunners and the joint lead managers in connection with Hydoo International Holding Limited’s offering of US$100 million 13.75% senior notes due 2018, including high-yield covenants and pursuant to Regulation S.
HSBC and Morgan Stanley as underwriters, in connection with Longfor Properties Co. Ltd.’s offering of RMB2 billion 6.75% senior notes due 2018, including high-yield covenants and pursuant to Regulation S.
Barclays Capital and Citigroup as joint global coordinators and Barclays Capital, Citigroup, HSBC, Deutche Bank, Standard Chartered Bank and The Royal Bank of Scotland as joint lead managers and bookrunners in the issuance of RMB1.5 billion 4.2% bonds due 2027, pursuant to Regulation S by China Development Bank Corporation and Barclays Capital as the sole lead managers and bookrunners, in the re-opening of this offering to issue an additional of RMB1 billion (US$159 million) 4.2% bonds due 2027 pursuant to Regulation S.
Shougang Holding (Hong Kong) Limited, as guarantor and Shougang Holding Bonds Limited, a special purpose vehicle of the guarantor, as issuer, in Shougang’s RMB1 billion offering of 4.875% Bonds due 2013, pursuant to Regulation S.
Golden Eagle Retail Group in connection with the issue of US$400 million 4.625% senior notes due 2023.
Hengdeli Holdings Limited in its offering of US$350 million 6.25% senior notes due 2018, including high-yield covenants and pursuant to Regulation S.
Citi, HSBC, Morgan Stanley and Standard Chartered Bank as underwriters, in connection with Longfor Properties Co. Ltd.’s offering of US$500 million 6.75% notes due 2023, including high-yield covenants and pursuant to Regulation S.
SOHO China Limited in connection with the offering of US$600 million 5.75% senior notes due 2017 and US$400 million 7.125% senior notes due 2022, including high-yield covenants and pursuant to Regulation S.
Morgan Stanley, Standard Chartered, Citi and HSBC as underwriters in connection with Longfor Properties Co. Ltd.’s offering of US$750 million 9.5% notes due 2016, including high-yield covenants and pursuant to Regulation S and Rule 144A.
Morgan Stanley and Nomura as underwriters, in connection with SPG Land (Holdings) Ltd’s offering of US$200 million 13.5% notes due 2016, including high-yield covenants.
West China Cement Limited in connection with its offering of US$400 million 7.5% senior notes due 2016, including high-yield covenants and pursuant to Regulation S and Rule 144A.
Fufeng Group Limited in connection with its offering of US$300 million 7.625% senior notes due 2016, including high-yield covenants and pursuant to Regulation S and Rule 144A.
Deutsche Bank and HSBC as joint lead managers and joint bookrunners, in connection with Sound Global Ltd.’s offering of US$150 million 11.875% Senior notes due 2017, including high-yield covenants and pursuant to Regulation S. This is the first U.S. dollar-denominated high-yield notes ever listed on the Stock Exchange of Hong Kong Limited.
Country Garden Holdings Company Limited in connection with its offering of US$375 million 11.75% senior notes due 2014, pursuant to Regulation S and Rule 144A.

Equity Transactions

Suxin Joyful Life Services Co., Ltd. (HKEX: 2152) in connection with its HK$230 million (US$29.5 million) initial public offering and H-share listing on the Main Board of The Stock Exchange of Hong Kong (HKEX). Suxin Services is a subsidiary of Suzhou Sugaoxin Group Co., Ltd., a leading city developer and operator headquartered in Suzhou, Jiangsu Province.
Lushang Life Services Co., Ltd. (HKEX: 2376) in connection with its HK$138.4 million (US$17.636 million) initial public offering and listing of H shares on the Main Board of the Stock Exchange of Hong Kong. Lushang Life Services is a comprehensive property management service provider with a market leading position in Shandong Province.
Athenex, Inc., in connection with its initial public offering of its Common Shares listed on the NASDAQ Global Market. Athenex, Inc. is a global biopharmaceutical company dedicated to the discovery, development and commercialization of novel therapies for the treatment of cancer.
Sanxun Holdings Group Limited (HKEX: 6611) in connection with its HK$783.8 million (US$100.9 million) initial public offering on the Main Board of The Stock Exchange of Hong Kong. Sanxun Holdings is a real estate developer headquartered in Shanghai and deeply rooted in Anhui Province.
Ronshine Service Holding Co., Ltd (HKEX: 2207) in connection with its HK$560 million (US$71.79 million) initial public offering on the Main Board of The Stock Exchange of Hong Kong. Ronshine Service is a comprehensive and fast-growing property management services provider in China.
Dexin Services Group Limited (HKEX:2215) in connection with its HK$697.4 million (US$89.8 million) initial public offering on the Main Board of The Stock Exchange of Hong Kong. Dexin Services is a comprehensive property management service provider headquartered in Hangzhou.
Ling Yue Services Group Limited (HKEX: 2165) in connection with its HK$293.3 million (US$37.8 million) initial public offering on the Main Board of The Stock Exchange of Hong Kong. Ling Yue Services is a reputable property management company heaquartered in Sichuan Province.
Goldman Sachs (Asia) LLC, CIMB Investment Bank Berhad and P.T. Mandiri Sekuritas, as underwriters in a secondary sale of shares of PT XL Axiata TBK by Axiata Group Berhad. This transaction was named “Best Secondary Offering of the Year” by The Asset in 2010.
Tenfu (Cayman) Holdings Company Limited (HKEX: 6868) in connection with its US$160.5 million initial public offering listed on the Main Board of the Stock Exchange of Hong Kong Limited with concurrent global placement pursuant to Regulation S and Rule 144A. This transaction was named “Best Small-Cap Equity Deal” by The Asset in 2011.
E-Star Commercial Management Company Limited (HKEX: 6668) in its HK$881.3 million (US$115.1 million) initial public offering and listing on the Main Board of the Stock Exchange of Hong Kong. E-Star Commercial is a leading commercial property operational service provider in the Greater Bay Area with a national presence.
Roiserv Lifestyle Services Co., Ltd. (HKEX:2146) in connection with its HK$1.27 billion (US$160 million) initial public offering (IPO) and listing of H shares on the Main Board of the Stock Exchange of Hong Kong. Roiserv is a comprehensive property management service provider deeply rooted in the Bohai Economic Rim with a service network across China.
Datang Group Holdings Limited (HKEX:2117) in connection with its HK$1.48 billion (US$191.5 million) initial public offering on the Main Board of the Stock Exchange of Hong Kong. Datang Group is a property developer in China focused on the development of residential and commercial properties in selected economic regions.
Leading Holdings Group Limited (HKEX: 6999) in connection with its HK$1.3 billion (US$170.2 million) initial public offering on the Main Board of the Stock Exchange of Hong Kong. Leading Holdings is a property developer with a leading market position among the Sichuan-based property developers and a nationwide presence.
Jiayuan Services Holdings Limited (HKEX: 1153) in connection with its HK$518 million (US$66.7 million) initial public offering on the Main Board of the Stock Exchange of Hong Kong. The listing is a spinoff of property management business from Jiayuan International Group Limited (HKEX: 2768). Jiayuan Services is a leading comprehensive property management service provider.
Shinsun Holdings (Group) Co., Ltd. (HKEX: 2599) in its HK$3.17 billion (US$400 million) initial public offering on the Main Board of the Stock Exchange of Hong Kong (HKEX). Shinsun Holdings is a fast-growing, large-scale, comprehensive real estate developer in China.
Jinke Smart Services Group Co., Ltd (HKEX: 9666)in its HK$5.74 billion (US$736 million) global offering and listing of H-shares on the Main Board of The Stock Exchange of Hong Kong. Jinke Services is a leading, comprehensive, and “smart” property management service provider in China.
Sunkwan Properties Group Limited (HKEX: 6900) in its HK$1.064 billion (US$136 million) initial public offering on the Main Board of The Stock Exchange of Hong Kong. Represented the sole sponsor ABCI Capital Limited and underwriters in the offering. Sunkwan Properties is a leading real estate developer in China.
Shimao Services Holdings Limited (HKEX: 873) in its HK$9.76 billion (US$1.26 billion) initial public offering on the Main Board of The Stock Exchange of Hong Kong Limited with a concurrent global offering pursuant to Rule 144A and Regulation S. The listing is a spinoff of property management business from Shimao Group Holdings Limited (HKEX:813). Shimao Services is a leading comprehensive property management and community living service provider in China.
KWG Living Group Holdings Limited (HKEX: 3913) in its HK$2.89 billion (US$373 million) initial public offering on the Main Board of the Stock Exchange of Hong Kong. The listing is a spinoff of property management business from KWG Group Holdings Ltd (HKEX:1813). KWG Living is China’s leading property management service provider.
Radiance Holdings (Group) Company Limited (HKEX: 9993) (Radiance Holdings) in connection with its HK$2.47 billion (US$317 million) initial public offering (IPO) on the Main Board of the Stock Exchange of Hong Kong. Radiance Holdings is China’s leading property developer.
First Service Holding Limited (HKEX: 2107) in its HK$600 million (US$76.9 million) initial public offering on the Main Board of The Stock Exchange of Hong Kong. Represented the sole sponsor in the offering. First Service is a leading property management service provider in China.
Excellence Commercial Property & Facilities Management Group Limited (HKEX:6989) in its HK$3.06 billion(US$392 million) initial public offering on the Main Board of the Stock Exchange of Hong Kong. Excellence Commercial Property is a leading commercial property management service provider in China.
MicroPort Scientific Corporation (HKEX: 0853) in connection with the placing of new shares under general mandate. The gross proceeds from the placing are expected to be approximately HK$1.55 billion. The placing agent is J.P. Morgan Securities Plc.
Zhenro Services Group Limited (HKEX: 6958) in connection with its US$146.8 million (approximately HK$1.14 billion) initial public offering on the Main Board of the Stock Exchange of Hong Kong. Zhenro Services is a nationwide, fast-growing and comprehensive property management service provider in China, offering diversified property management services for residential and non-residential properties.
Redsun Services Group Limited (HKEX: 1971) HK$415 million (approximately US$53.5 million) initial public offering on the Main Board of The Stock Exchange of Hong Kong and global offering. The Sidley team acted as Hong Kong legal counsel for the sole sponsor, ABCI Capital Limited, and the underwriters, which included ABCI Securities Company Limited, CCB International Capital Limited, CMB International Capital Limited, ICBC International Securities Limited, CEB International Capital Corporation Limited, China Everbright Securities (HK) Limited, Guosen Securities (Hong Kong) Capital Company Limited, Haitong International Securities Company Limited, CRIC Securities Company Limited, CNI Securities Group Limited, Fortune (HK) Securities Limited, Livermore Holdings Limited, Maxa Capital Limited, Seazen Resources Securities Limited, and Soochow Securities International Brokerage Limited. Redsun Services is one of the top 100 property management companies in China.
Powerlong Commercial Management Holdings Limited (HKEX: 9909) US$172 million initial public offering on the Main Board of The Stock Exchange of Hong Kong Limited. This listing is a spinoff of the commercial operational and property management services from Powerlong Real Estate Holdings Limited (HKEX: 1238). Powerlong Commercial Management Holdings Limited is a leading commercial operational service provider in China.
Sinic Holdings (Group) Company Limited (HKEX: 2103) US$270 million initial public offering on the Main Board of The Stock Exchange of Hong Kong Limited. Sinic Holdings (Group) Company Limited is a large-scale and comprehensive property developer in the PRC.
Sichuan Languang Justbon Services Group Co., Ltd. (HKEX: 2606) US$189 million global offering and listing of H-shares on the Main Board of The Stock Exchange of Hong Kong Limited. This listing is also a spinoff from a Shanghai-listed company, Sichuan Languang Development Co., Ltd.
Zhongliang Holdings Group Company Limited (HKEX: 2772) US$376 million initial public offering on the Main Board of The Stock Exchange of Hong Kong Limited. The Sidley team acted as Hong Kong legal counsel for underwriters, which included CCB International Capital Limited as sole sponsor and CCB International Capital Limited, Guotai Junan Securities (Hong Kong) Limited, Huatai Financial Holdings (Hong Kong) Limited, Nomura International (Hong Kong) Limited, ABCI Securities Company Limited, CMB International Capital Limited, ICBC International Securities Limited, CRIC Securities Company Limited, CGS-CIMB Securities (Hong Kong) Limited, China Investment Securities International Brokerage Limited, WE Securities Limited, A-JEX International Asset Management Limited, GLAM Capital Limited, Wan Lung Securities Limited, Ping An Securities Limited, Head & Shoulders Securities Limited and Kilmorey Securities Limited. Zhongliang Holdings Group Company Limited is a fast-growing large-scale comprehensive real estate developer in China.
China Gingko Education Group Company Limited (HKEX: 1851) US$23 million initial public offering on the Main Board of The Stock Exchange of Hong Kong Limited. China Gingko Education Group Company Limited is a higher education service provider in Sichuan Province.
Ever Sunshine Lifestyle Services Group Limited (HKEX: 1995) US$101 million initial public offering on the Main Board of The Stock Exchange of Hong Kong Limited. Ever Sunshine Lifestyle Services Group Limited is a reputable and fast-growing property management service provider in China.
Kaisa Property Holdings Limited (now known as Kaisa Prosperity Limited) (HKEX: 2168) US$33 million initial public offering on the Main Board of The Stock Exchange of Hong Kong Limited. Kaisa Property Holdings Limited is one of the leading comprehensive property management service providers in China focusing on mid- to high-end properties.
DaFa Properties Group Limited (HKEX: 6111) US$107.7 million initial public offering on the Main Board of the Stock Exchange of Hong Kong Limited. The Sidley team acted as Hong Kong legal counsel for the sole sponsor CCB International Capital Limited, and the underwriters, which included CMB International Capital Limited, First Capital Securities Limited, Yuanyin Securities Limited, SSIF Securities Limited, Head & Shoulders Securities Limited and Pacific Foundation Securities Limited. Dafa Properties is an expanding real estate developer in the Yangtze River Delta Region.
A-Living Services Co. Ltd. (HKEX: 3319) US$525.5 million initial public offering on the Main Board of the Stock Exchange of Hong Kong Limited. This was the first H share spinoff listing of a company engaged in the business of property management from a red chip-listed holding company. Upon its listing, A-Living Services Co. Ltd had a market cap of over HK$16 billion.
Zhenro Properties Group Limited (HKEX: 6158) US$511.5 million initial public offering on the Main Board of the Stock Exchange of Hong Kong Limited. The Sidley team acted as Hong Kong legal counsel for the sole sponsor CCB International Capital Limited and the underwriters Guotai Junan Securities (Hong Kong) Limited and Haitong International Securities Company Limited. Zhenro Properties Group Limited is a large comprehensive property developer in the P.R.C.
Ronshine China Holdings Limited (HKEX: 3301) US$233 million initial public offering on the Main Board of The Stock Exchange of Hong Kong Limited. The Sidley team acted as Hong Kong legal counsel for the sole sponsor and underwriter ICBC. Ronshine China is a property developer in China.
Colour Life Services Group Co., Limited (HKEX: 1778) US$122 million initial public offering on the Main Board of the Stock Exchange of Hong Kong Limited and global offering. Colour Life Services Group is one of the leading property management companies in the P.R.C.
Yida China Holdings Limited (HKEX: 3639) US$183 million initial public offering on the Main Board of the Stock Exchange of Hong Kong Limited with concurrent global placement pursuant to Regulation S and Rule 144A. Yida China is one of the leading property developers focusing on the development of business parks in China
Goodbaby International Holdings Limited (HKEX: 1086) US$188.4 million Rule 144A and Regulation S initial public offering on the Main Board of the Stock Exchange of Hong Kong Limited and global offering. Goodbaby International is an international durable juvenile products company headquartered in China.
China First Chemical Holdings Ltd (HKEX: 2121) US$69.2 million initial public offering on the Main Board of the Stock Exchange of Hong Kong Limited with concurrent global placement pursuant to Regulation S and Rule 144A. China First Chemical is a leading chemical provider specializing in bleaching and disinfectant chemicals in China.
MicroPort Scientific Corporation (HKEX: 853) US$198 million Rule 144A and Regulation S initial public offering on the Main Board of the Stock Exchange of Hong Kong Limited and global offering. The Sidley team acted as legal counsel of Credit Suisse and Piper Jaffray, as joint sponsors, bookrunners and lead managers. MicroPort Scientific Corporation is a leading developer, manufacturer and marketer of medical devices in China.
J.P. Morgan Securities (Asia Pacific) Limited in a block trade relating to the shares of an Indonesian company.
Credit Suisse Securities (USA) LLC, HSBC Securities (USA) Inc., Piper Jaffray & Co. and CIBC World Markets Corp as underwriters in the approximately US$283 million combined primary/secondary initial public offering of American Depositary Shares of Agria Corporation, a developer of agricultural products based in China. The American Depositary Shares were listed on the New York Stock Exchange.
Vimetco N.V.,a producer of primary aluminum and processed aluminum with operations in Romania and China in its initial public offering listed on the London Stock Exchange.
Stella International Holdings Limited (Hong Kong) (HKEX: 1836) US$388 million initial public offering on the Main Board of the Stock Exchange of Hong Kong Limited with concurrent global placement pursuant to Regulation S and Rule 144A. Renee acted as legal counsel for the lead underwriter Goldman Sachs (Asia) L.L.C. Stella International is a retailer and designer of men’s and women’s shoes.
WuXi PharmaTech (Cayman) Inc. in connection with its US$212 million initial public offering of 15 million American Depositary Share listed on the New York Stock Exchange.

Loan Transactions

Guangzhou R&F Properties Co., Ltd.in connection with the refinancing of its outstanding 9.5% senior secured notes due 2022 issued by its subsidiary Trillion Glory Limited, by way of a US$540.417 million term loan facility. The maturity date of the loan is 31 October 2023.
Zhongliang Holdings Group Company Limited as borrower in connection with 1) HK$150 million syndicated loan facility arranged by UBS and US$200 million loan facility provided by RRJ Capital.
Jiayuan Stangroup Development Company Limited as borrower in connection with a US$116 million loan facility provided by HSBC.
Jiayuan International Group Limited as borrower in connection with a HK$210 million loan facility arranged by HSBC.
InfraRed NF in providing a US$92.2 million mezzanine loan to Fullsun International Holdings Group. InfraRed NF, a leading Hong Kong-based real estate investment manager, co-invested with Firewave Management Limited, an indirect wholly owned subsidiary of a Singapore-listed company, Metro Holdings Limited, on this loan.
Shimao Property Holdings Limited as borrower and certain of its subsidiaries as guarantors, in connection with multi-currency term loan facilities in the amount of US$610 million and HK$468 million.
SOHO China Limited and certain of its subsidiaries as guarantors on the US$415 million and HK$4,263 million four-year syndicated transferrable term loan facilities made available by a syndicate of banks.
KWG Property Holding Limited, Guangzhou R&F Properties Co. Ltd and Shimao Property Holdings Limited in connection with a three-year HK$2,700 million term loan facility with a syndicate of banks.
Agile Group Holdings Limited, KWG Property Holding Limited, Shimao Property Holdings Limited and Guangzhou R&F Properties Co. Ltd as guarantors and Guangzhou R&F Properties Co. Ltd as undertaker on the joint venture set up by the Sponsors, Accord Wing Limited as guarantor and its direct subsidiary, the Borrower as borrower on a complex transferable HK$2.7 billion 3-year term loan facility and an onshore RMB1 billion 3-year term loan facility granted to the Onshore Borrower.

M&A / Other Transactions

Special committee in connection with a going private bid from the Chairman and controlling shareholder of Yida China Holdings Limited.
GE Energy in its bid to acquire Westinghouse Electric Company LLCa builder of nuclear power plants, from British Nuclear Fuels Limited.
The Home Depot, Inc. in its acquisition of Cox Lumber Co. and Cox Lumber Co. of Inverness.
Per-Se Technologies, Inc. in its acquisition by McKesson Corp.
Roper Industries, Inc. in its acquisition of MedTec, Inc.
Shareholders of a closely held corporation in their sale of all capital stocks to Imaging Technologies Services LLC.
Arcapita its acquisition of AccuMed Holding Corp.
ChemPro, Inc. in its merger with and into an affiliate of Allied Capital Corporation, ChemPro Acquisition Corp.
Serologicals Corporation in its acquisition of Linco Research Incorporated and LINCO Diagnostic Services, Inc.
Rooms To Go.com, Inc. in its acquisition of five stores from Morris Kirschman & Co., LLC.

Renee Xiong

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