Yuzhou Properties Issues Two Senior Notes with Combined Value of US$1 Billion

February 13, 2019

Hong Kong - Paul Hastings, a leading global law firm, announced today that it represented Yuzhou Properties Company Limited (“Yuzhou Properties”), a leading PRC property developer listed on the Hong Kong Stock Exchange, on two transactions involving issuances of senior notes.

US$500 million 8.625% senior notes due 2022. BOC International, Credit Suisse, Goldman Sachs (Asia) L.L.C., Haitong International, CICC HK Securities and Yuzhou Financial acted as the joint global coordinators, joint bookrunners and joint lead managers; and
US$500 million 8.50% senior notes due 2023. Deutsche Bank, Morgan Stanley, BOC International, Credit Suisse, Goldman Sachs (Asia) L.L.C. and Yuzhou Financial acted as the joint global coordinators, joint bookrunners and joint lead managers.

Yuzhou Properties and its subsidiaries intend to use the net proceeds of the two senior notes issuances primarily to refinance its existing indebtedness.

Paul Hastings has advised Yuzhou Properties on a number of transactions over the past few years, including its issuances of US$425 million of senior notes and US$375 million of senior notes in 2018; and US$250 million of senior notes and US$350 million of senior notes in 2017.

The Paul Hastings team was led by Corporate partner Vivian Lam, with support from associates May Lun and Jeff Lee and trainee solicitor Phoebe Chow.

At Paul Hastings, our purpose is clear — to help our clients and people navigate new paths to growth. With a strong presence throughout Asia, Europe, Latin America, and the U.S., Paul Hastings is recognized as one of the world’s most innovative global law firms.