YIHE Real Estate issues US$130 million in bonds

YIHE Real Estate and Leading Peak Enterprises, a BVI registered shareholder of the Company, issued US$100 million secured convertible bonds and US$30 million exchangeable bonds to Goldman Sachs and CITIC Capital, respectively. YIHE Real Estate owns various offshore and onshore entities, which hold real estate properties in Guangzhou and other areas in the PRC. Paul, Hastings, Janofsky & Walker advised for YIHE Real Estate, while Linklaters and Commerce & Finance acted for Goldman Sachs, and Mallesons Stephen Jaques acted for Citic Capital.