Paul Hastings Advises Mingfa Group on US$200 Million Convertible Bond Offering

November 26, 2010

Hong Kong (November 26, 2010) Paul, Hastings, Janofsky & Walker, a leading global law firm, announced today that it has advised Mingfa Group (International) Company Limited (Mingfa Group), a leading PRC investment company focused on property development, in its issuance of HK$1,551,580,000 (approximately US$200 million) in convertible bonds with HK$387,895,000 (approximately US$50 million) of warrants. The subscribers are co-owned by Warburg Pincus Private Equity X, L.P. and Warburg Pincus X Partners, L.P., private equity investment funds managed by Warburg Pincus. UBS and BOCOM International (Asia) Limited acted as financial advisers to the company.

Vivian Lam, a partner in the Hong Kong office of Paul Hastings, commented: We are delighted to have advised Mingfa Group on this deal. It further highlights our strength in the debt capital markets. It has been a landmark year for Paul Hastings in this area, as we  have advised on a series of debt capital markets transactions valued in excess of US$2 billion. These include groundbreaking deals for PRC property companies such as the US$900 million and US$600 million perpetual subordinated convertible securities offerings for Sino Ocean Land and Franshion Properties, respectively, as well as the recent US$300 million senior notes offering by Glorious Properties.

The Paul Hastings team was led by partner Vivian Lam and included partners Catherine Tsang and Steve Winegar and associate Tzy Yen Chu.

Paul, Hastings, Janofsky & Walker 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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