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Cathay Associates Kejie Advised Sino-Ocean Group Holding Limited on the Issuance of U.S. $600,000,000 Perpetual Subordinated Guaranteed Capital Securities

September 29, 2017

Cathay Associates Kejie advised Sino-Ocean Group HoldingLimited (“Sino-Ocean Group”)on the issuance ofU.S. $600,000,000 Perpetual SubordinatedGuaranteed Capital Securities (the “Securities”).The completion of the issuance of the Securities took place onSeptember 21, 2017, which creates the Asia's largest issuanceof perpetual subordinated securities of real estate company in the past twoyears, realizes the lowest issuing rate and the lowest coupon rate of Chinesereal estate issuers in the overseas dollar perpetual subordinated securitiesmarket, and sets a new benchmark for real estate company’s perpetualsubordinated securities financing abroad.

HSBC, Goldman Sachs (Asia) L.L.C., UBS andChina CITIC Bank International Limited were appointed as Joint GlobalCoordinator, Joint Lead Managers and Joint Bookrunners, and DBS Bank Ltd.,Industrial Bank Co., Ltd. Hong Kong Branch, China Merchants Securities (HK)Co., Ltd. and Bank of China (Hong Kong) Limited as Joint Lead Managers andJoint Bookrunners.

Cathay Associates Kejie team was led by partner He Jieand included Li Xin, Sun Chao, Ping Xianyin, Tan Binbin and Hu Jia.

Sino-Ocean Group was listed on the main board of the HongKong Stock Exchange on September 28th, 2007. Cathay Associates Kejie team hasalso advised Sino-Ocean Group on its US$0.2 billion private equity financing in2006, its US$ 1.76 billion IPO in 2007,its issuance of RMB 2.6 billionCorporate Bonds in 2009, its issuance of US$900,000,000 Perpetual SubordinatedConvertible Securities Callable 2015 in 2010, its issuance of US$400,000,000Perpetual Subordinated Capital Securities Callable 2016 in2011, its issuance ofUS$1,200,000,000 Guaranteed Notes in July, 2014, its issuance ofUS$1,200,000,000 Guaranteed Notes in February, 2015, its issuance of RMB 14billion Corporate Bonds in 2015,and 2016 and its issuance of RMB 10 billionRegistered Panda Bonds in2017.

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