Paul Hastings Advises Franshion Properties in its US$500 Million Issuance of Senior Notes

April 19, 2011

Hong Kong (April 19, 2011) Paul, Hastings, Janofsky & Walker, a leading global law firm, announced today that it has advised the issuer, Franshion Development Limited (Franshion Development) and the guarantor, Franshion Properties (China) Ltd (Franshion Properties) in connection with the offering of US$500 million of senior notes. Hong Kong-listed PRC property company Franshion Properties is a subsidiary of Sinochem Group (Sinochem), one of Chinas key state-owned enterprises. The notes are due in 2021 and the proceeds will be used for working capital, debt refinancing and general corporate purposes.

The senior unsecured notes priced at a yield of 6.75% and are backed up by a letter of support from Sinochem Corporation.

HSBC, RBS, Deutsche Bank and Nomura were the joint underwriters on the transaction.

The Paul Hastings team was led by partners Vivian Lam and David Grimm, with support from Celia Chau, David Dwyer, Jordan Baggs and Kate Lee.

Paul, Hastings, Janofsky & Walker LLP is a leading global law firm with offices in Asia, Europe, and the United States. We provide innovative legal solutions to financial institutions and Fortune 500 companies. Please visit www.paulhastings.com for more information.



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