Logan Property Holdings Company Limited proposed to conduct an international offering of guaranteed U.S. Dollar denominated senior fixed rate notes. Completion of the Proposed Notes Issue is subject to, among others, market conditions and investors' interest. The Notes are proposed to be guaranteed by the Subsidiary Guarantors. As at the date of this announcement, the principal amount, the interest rate, the payment date and certain other terms and conditions of the Proposed Notes Issue are yet to be finalised. Upon finalising the terms of the Notes, it is expected that Deutsche Bank, China CITIC Bank International, Credit Suisse, Haitong International, UBS, the Subsidiary Guarantors and the Company will enter into the Purchase Agreement. The company will make a further announcement in respect of the Proposed Notes Issue upon the signing of the Purchase Agreement. The Group is principally engaged in property development, property investment and property construction in the PRC, focusing on the residential property market, and its products are primarily targeted at first-time homebuyers and upgraders. The company believes demand from such customers is less susceptible to fluctuations in property prices and thus provides stability to the Group's business profile. In 2019, the Group was ranked as the 23rd-largest property developer in the PRC by comprehensive strength.