Paul Hastings Represents Franshion Properties on Issuance of US$500 million Guaranteed Notes

October 29, 2012

Hong Kong (October 29, 2012) - Paul Hastings, a leading global law firm, announced today that it advised Franshion Properties (China) Limited (Franshion Properties), a Hong Kong-listed PRC property company and subsidiary of state-owned Sinochem Corporation, on its US$500 million U.S. bond offering. The Royal Bank of Scotland, Deutsche Bank, J.P. Morgan Securities and Standard Chartered Bank were the joint lead managers on the deal.

The notes, due in 2017, have a yield of 4.7% and the proceeds are expected to be used for refinancing of outstanding indebtedness, working capital and other general corporate purposes.

Paul Hastings has advised Franshion Properties on a number of its debt-related transactions, including its debut in the U.S. dollar bond market in 2011 and its landmark private placement of perpetual subordinated convertible securities in 2010.

The Paul Hastings team was led by partners Vivian Lam and David Grimm, with support from Celia Chau and Joy Chen.

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