Modern Land china : Proposed Issuance of USD-denominated Senior Notes

NOT FOR DISTRIBUTION IN THE UNITED STATES

Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement.

This announcement is for information purposes only and does not constitute an invitation or solicitation of an offer to acquire, purchase or subscribe for securities or an invitation to enter into an agreement to do any such things, nor is it calculated to invite any offer to acquire, purchase or subscribe for any securities.

This announcement is not an offer of securities for sale or the solicitation of an offer to buy securities in the United States or in any country or jurisdiction in which any such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such country or jurisdiction. The securities referred to herein have not been and will not be registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration unless pursuant to an exemption from, or in a transaction not subject to, the registration requirements of U.S. securities laws. Any public offering of securities to be made in the United States will be made by means of a prospectus that will contain detailed information about the company making the offer and its management and financial statements. The Company has not registered and does not intend to register any of the Notes in the United States.

當代置 業（中國 ）有限公司

(Incorporated in the Cayman Islands with limited liability)

The Company proposes to conduct an international offering of the USD-denominated senior notes. The Notes are proposed to be guaranteed by, and secured by a pledge of the capital stock of all of the Subsidiary Guarantors. Guotai Junan International, HSBC, Zhongtai International, CICC HK Securities, Deutsche Bank AG, VTB Capital and SPDB have been appointed as the joint global coordinators, joint bookrunners and joint lead managers of the offering and HSBC has been appointed as the sole green structuring advisor for the Proposed Notes Issue. The Notes will only be offered outside the United States in accordance with Regulation S under the Securities Act. The Notes will not be offered to the public and it is not expected that any of the Notes will be placed to any connected persons of the Company.

Completion of the Proposed Notes Issue is subject to market conditions and investor interest. Pricing of the Notes, including the aggregate principal amount, the Offer Price and the interest rate, will be determined through a book building exercise to be conducted by Guotai Junan International, HSBC, Zhongtai International, CICC HK Securities, Deutsche Bank AG, VTB Capital and SPDB as the joint global coordinators, joint bookrunners and the joint lead managers. Upon the finalisation of the terms of the Notes, the Company, the Subsidiary Guarantors, Guotai Junan International, HSBC, Zhongtai International, CICC HK Securities, Deutsche Bank AG, VTB Capital and SPDB will enter into the Purchase Agreement. If the Notes are issued, the Company intends to use the proceeds from the Proposed Notes Issue to refinance certain existing indebtedness and fund existing and new property projects. The Company may adjust its foregoing plans in response to changing market conditions and may therefore, reallocate the use of proceeds from the Proposed Notes Issue. The Notes will be issued as green bonds to fund new and existing projects and businesses with environmental benefits in alignment with the Green Bond Principles, by way of refinancing existing debt in relation to these projects.

The Company has received approval in-principle for the listing and quotation of the Notes on the Official List of the SGX-ST. Admission to the Official List of the SGX-ST and quotation of any Notes on the SGX-ST is not to be taken as an indication of the merits of the Notes, the Company and/or the Subsidiary Guarantors. The SGX-ST assumes no responsibility for the correctness of any of the statements made, opinions expressed or reports contained herein. No listing of the Notes has been, and will be, sought in Hong Kong.

The Company proposes to conduct an international offering of the USD-denominated senior notes. The Notes are proposed to be guaranteed by, and secured by a pledge of the capital stock of all of the Subsidiary Guarantors. Guotai Junan International, HSBC, Zhongtai International, CICC HK Securities, Deutsche Bank AG, VTB Capital and SPDB have been appointed as the joint global coordinators, joint bookrunners and joint lead managers of the offering and HSBC has been appointed as the sole green structuring advisor for the Proposed Notes Issue. The Notes will only be offered outside the United States in accordance with Regulation S under the Securities Act. The Notes will not be offered to the public and it is not expected that any of the Notes will be placed to any connected persons of the Company.

Completion of the Proposed Notes Issue is subject to market conditions and investor interest. Pricing of the Notes, including the aggregate principal amount, the Offer Price and the interest rate, will be determined through a book building exercise to be conducted by Guotai Junan International, HSBC, Zhongtai International, CICC HK Securities, Deutsche Bank AG, VTB Capital and SPDB as joint global coordinators, joint bookrunners and the joint lead managers. Upon the finalisation of the terms of the Notes, the Company, the Subsidiary Guarantors, Guotai Junan International, HSBC, Zhongtai International, CICC HK Securities, Deutsche Bank AG, VTB Capital and SPDB will enter into the Purchase Agreement.

The Group is a property developer focusing on the development of green, energy-saving and eco-friendly residences in the PRC. The Group commenced its property development business in Beijing in 2000, and have expanded its operations to Shanghai, Suzhou, Taiyuan, Changsha, Nanchang, Wuhan, Hefei, Xi'an, Nanjing, Foshan, Dongdaihe, Jiujiang, Huizhou and Xiantao.

If the Notes are issued, the Company intends to use the proceeds from the Proposed Notes Issue to refinance certain existing indebtedness and fund existing and new property projects. The Company may adjust its foregoing plans in response to the changing market conditions and may therefore, reallocate the use of proceeds from the Proposed Notes Issue. The Notes will be issued as green bonds to fund new and existing projects and businesses with environmental benefits in alignment with the Green Bond Principles, by way of refinancing existing debt in relation to these projects.

The Company has received approval in-principle for the listing and quotation of the Notes on the Official List of the SGX-ST. Admission to the Official List of the SGX-ST and quotation of any Notes on the SGX-ST is not to be taken as an indication of the merits of the Notes, the Company and/or the Subsidiary Guarantors. The SGX-ST assumes no responsibility for the correctness of any of the statements made, opinions expressed or reports contained herein. No listing of the Notes has been, and will be, sought in Hong Kong.

In this announcement, the following expressions have the meanings set out below unless the context requires otherwise:

"Board" the board of Directors;

"CICC HK Securities" China International Capital Corporation Hong Kong Securities

Limited, one of the joint global coordinators, joint bookrunners and joint lead managers in respect of the Proposed Notes Issue;

"Company" Modern Land (China) Co., Limited (當代置業（中國）有限公司),

a company incorporated under the laws of the Cayman Islands with limited liability, whose shares are listed on the Stock Exchange;

"connected person" has the meaning ascribed to it in the Listing Rules;

"Deutsche Bank AG" Deutsche Bank AG, Hong Kong Branch, one of the joint global

coordinators, joint bookrunners and joint lead managers in respect of the Proposed Notes Issue;

"Directors" the directors of the Company;

"Green Bond Principles" the Green Bond Principles, a set of voluntary process guidelines

for issuing green bonds, issued by the International Capital Market Association;

"Group" the Company and its subsidiaries;

"Guotai Junan

International"

Guotai Junan Securities (Hong Kong) Limited, one of the joint global coordinators, joint bookrunners and joint lead managers in respect of the Proposed Notes Issue;

"Hong Kong" the Hong Kong Special Administrative Region of the PRC;

"HSBC" The Hongkong and Shanghai Banking Corporation Limited, one of the joint global coordinators, joint bookrunners and joint lead managers and the sole green structuring advisor in respect of the Proposed Notes Issue;

"Listing Rules" the Rules Governing the Listing of Securities on the Stock Exchange; "Notes" the USD-denominated senior notes to be issued by the Company

subject to the terms and conditions of the Purchase Agreement;

"Offer Price" the final price at which the Notes will be sold;

"PRC" the People's Republic of China (excluding, for the purpose of this announcement, Hong Kong, the Macao Special Administrative Region of the People's Republic of China and Taiwan);

"Proposed Notes Issue" the proposed international offering of the Notes by the Company;

"Purchase Agreement" the purchase agreement proposed to be entered into among the

Company, the Subsidiary Guarantors, Guotai Junan International, HSBC, Zhongtai International, CICC HK Securities, Deutsche Bank AG, VTB Capital and SPDB in respect of the Proposed Notes Issue;