Press Release

White & Case Advises Greentown China on Sixth High Yield Financing

Global law firm White & Case LLP has advised leading Chinese residential property developer Greentown China Holdings Limited on the US$200 million tap issuance of its 8 percent senior notes due 2019.

The additional notes were purchased by Credit Suisse, with China Orient Asset Management gaining exposure to the additional notes through financial derivatives.

The issuance was Greentown's sixth successful high yield financing in international debt capital markets. White & Case has advised the company on all high yield financings since Greentown's debut issue in 2013.

Beijing-based White & Case partner David Li, who co-led the Firm's deal team, said: "We are pleased to have represented Greentown, a long-standing client of White & Case, in this innovative structured high yield financing. The Firm has a strong presence in Asia and our team was ideally placed to assist and advise both in China and throughout the region."

Singapore-based White & Case partner Kaya Proudian, who co-led the team, said: "The structure of this issue highlights the ability of issuers to source alternative liquidity in the international debt capital markets."

Simon Fung, Chief Financial Officer at Greentown China, said: "We are pleased with the success of this issuance. White & Case has been a trusted partner in our financings. We've known we can rely on them and have sought their input and advice for years."

The cross-border White & Case team was drawn from a number of offices. It was co-led by partners David Li (Beijing) and Kaya Proudian (Singapore) and included partners Julian Chung and Baldwin Cheng (both Hong Kong), counsel Natalie Cheng (Hong Kong) and associates June Chun (Beijing) and Hendy Handoko (Singapore).

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