Bank Consent to Issue of Debt Securities

December 2012

The banking and finance practice team of our Firm headed by Philip Wong acted for a Chinese-funded local bank in Hong Kong (acting for itself and as agent for a Chinese bank operating in Macau) as one of the major lenders to China Aoyuan Property Group Limited (the “Issuer”) in relation to an issue of the USD senior notes (the “Notes”) by the Issuer in the aggregate sum of up to US$125,000,000 due in 2017. The Notes transaction was successfully closed on 23 November 2012 and it was subscribed by UBS AG, Hong Kong Branch as the initial purchaser of the Notes as well as the sole lead manager and sole bookrunner in respect of the offer and sale of the Notes as more particularly announced by the Issuer in its announcements on 15 November 2012 and 23 November 2012 respectively.