Guangzhou R&F Properties Co., Ltd. announced that on January 16, 2013, the company, R&F HK, the issuer and the subsidiary guarantors entered into the subscription agreement with Citi, Deutsche Bank, Goldman Sachs, HSBC, Morgan Stanley and UBS in connection with the notes issue. Pursuant to the subscription agreement, the issuer will issue the notes and Citi, Deutsche Bank, Goldman Sachs, HSBC, Morgan Stanley and UBS will be the initial subscribers of the notes. The notes will be unconditionally and irrevocably guaranteed on a joint and several basis by R&F HK, the subsidiary guarantors and the JV guarantors (if any). To the best of the directors' knowledge, information and belief having made all reasonable enquiry, each of Citi, Deutsche Bank, Goldman Sachs,
HSBC, Morgan Stanley and UBS is an independent third party and is not a connected person of the company. Subject to certain conditions to completion, the issuer will issue the USD 400 million principal amount of 8.75% senior notes due 2020, unless earlier redeemed in accordance with the terms thereof. The issue price of the notes will be 100% of the principal amount of the notes. The notes will bear interest from and including January 24, 2013 at the rate of 8.75% per annum, payable semi-annually in arrear on January 24 and July 24 in each year, commencing on July 24, 2013.