Redco Properties : PROPOSED ISSUE OF USD DENOMINATED SENIOR SUSTAINABILITY NOTES

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 does not constitute an offer to sell or the solicitation of an offer to buy any securities in the United States or any other jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. The securities referred to herein will not be registered under the Securities Act, and may not be offered or sold in the United States except pursuant to an exemption from, or a transaction not subject to, the registration requirements of the Securities Act. Any public offering of securities to be made in the United States will be made by means of a prospectus. Such prospectus will contain detailed information about the company making the offer and its management and financial statements. The Company does not intend to make any public offering of securities in the United States.

The communication of this announcement and any other document or materials relating to the issue of the Senior Notes offered hereby is not being made, and such documents and/or materials have not been approved, by an authorized person for the purposes of section 21 of the United Kingdom's Financial Services and Markets Act 2000, as amended (the "FSMA"). Accordingly, such documents and/or materials are not being distributed to, and must not be passed on to, the general public in the United Kingdom. The communication of such documents and/or materials as a financial promotion is only being made to those persons in the United Kingdom who have professional experience in matters relating to investments and who fall within the definition of investment professionals (as defined in Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005, as amended (the "Financial Promotion Order")), or who fall within Article 49(2)(a) to (d) of the Financial Promotion Order, or who are any other persons to whom it may otherwise lawfully be made under the Financial Promotion Order (all such persons together being referred to as "relevant persons"). In the United Kingdom, the Senior Notes offered hereby are only available to, and any investment or investment activity to which this announcement relates will be engaged in only with, relevant persons. Any person in the United Kingdom that is not a relevant person should not act or rely on this announcement or any of its contents.

REDCO PROPERTIES GROUP LIMITED

力 高 地 產 集 團 有 限 公 司

(Incorporated in the Cayman Islands with limited liability)

(Stock Code: 1622)

PROPOSED ISSUE OF USD DENOMINATED SENIOR

SUSTAINABILITY NOTES

The Board announces that the Company proposes to conduct an international offering of guaranteed U.S. Dollar denominated senior sustainability notes. Credit Suisse and Standard Chartered Bank have been appointed as the joint global coordinators, joint bookrunners, joint lead managers and joint sustainability structuring advisors for the Proposed Notes Issue, and Barclays, BNP PARIBAS, Deutsche Bank, Haitong International, HeungKong Financial and UBS have been appointed as the joint bookrunners and joint lead managers for the Proposed Notes Issue. The Notes will only be offered outside the United States in accordance with Regulation S under the U.S. Securities Act.

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Completion of the Proposed Notes Issue is subject to, among others, market conditions and investors' interest. Upon finalising the terms of the Notes, it is expected that Credit Suisse, Standard Chartered Bank, Barclays, BNP PARIBAS, Deutsche Bank, Haitong International, HeungKong Financial, 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.

Application will be made to the SGX-ST for the listing and quotation of the Notes on the SGX-ST. The SGX-ST assumes no responsibility for the correctness of any of the statements made, opinions expressed or reports contained in this announcement. Approval-in-principle from, admission to the Official List of, and listing and quotation of the Notes on, the SGX-ST are not to be taken as an indication of the merits of the Company, the Subsidiary Guarantors, the JV Subsidiary Guarantors (if any), the Notes, the Subsidiary Guarantees or the JV Subsidiary Guarantees (if any).

No listing of the Notes has been or will be sought in Hong Kong.

As no binding agreement in relation to the Proposed Notes Issue has been entered into as at the date of this announcement, the Proposed Notes Issue may or may not materialise. Investors and shareholders of the Company are urged to exercise caution when dealing in the securities of the Company. A further announcement in respect of the Proposed Notes Issue will be made by the Company should the Purchase Agreement be signed.

THE PROPOSED NOTES ISSUE

The Board announces that the Company proposes to conduct an international offering of guaranteed U.S. Dollar denominated senior sustainability notes. Credit Suisse and Standard Chartered Bank have been appointed as the joint global coordinators, joint bookrunners, joint lead managers and joint sustainability structuring advisors for the Proposed Notes Issue, and Barclays, BNP PARIBAS, Deutsche Bank, Haitong International, HeungKong Financial and UBS have been appointed as the joint bookrunners and joint lead managers for the Proposed Notes Issue.

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 Credit Suisse, Standard Chartered Bank, Barclays, BNP PARIBAS, Deutsche Bank, Haitong International, HeungKong Financial, 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.

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The Notes and the Subsidiary Guarantees have not been, and will not be, registered under the Securities Act or any state securities laws. The Notes and the Subsidiary Guarantees are being offered outside the United States in offshore transactions in accordance with Regulation S under the Securities Act, and may not be offered or sold within the United States except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act. None of the Notes and the Subsidiary Guarantees will be offered to the public in Hong Kong.

MiFID II professionals/ECPs-only/No PRIIPs KID - Manufacturer target market (MiFID II product governance) is eligible counterparties and professional clients only (all distribution channels). No PRIIPs key information document (KID) has been prepared as the Notes are not available to retail investors in the EEA.

UK MiFIR professionals/ECPs-only/No UK PRIIPs KID - Manufacturer target market (MiFIR product governance) is eligible counterparties and professional clients only (all distribution channels). No PRIIPs key information document (KID) has been prepared as the Notes are not available to retail investors in the UK.

Reasons for the Proposed Notes Issue

The Group is an integrated property developer focusing on mid-to-high-end residential and commercial property development in the PRC.

The Company intends to use the net proceeds of the Proposed Notes Issue to refinance certain of its existing medium to long term offshore indebtedness which will become due within one year and in accordance with the Company's Sustainable Finance Framework.

The Notes will be issued as "Sustainable Bonds" under the Company's Sustainable Finance Framework (the "SFF") to fund new and existing projects and businesses with environmental benefits in alignment with the ICMA Green Bond Principles 2018, ICMA Sustainability Bond Guidelines 2018 and ICMA Social Bond Principles 2020 and LMA Green Loan Principles 2018. The SFF is made public on the Company's website.

Listing

Application will be made to the SGX-ST for the listing and quotation of the Notes on the SGX-ST. The SGX-ST assumes no responsibility for the correctness of any of the statements made, opinions expressed or reports contained in this announcement. Approval-in-principle from, admission to the Official List of, and listing and quotation of the Notes on, the SGX-ST are not to be taken as an indication of the merits of the Company, the Subsidiary Guarantors, the JV Subsidiary Guarantors (if any), the Notes, the Subsidiary Guarantees or the JV Subsidiary Guarantees (if any).

No listing of the Notes has been or will be sought in Hong Kong.

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GENERAL

As no binding agreement in relation to the Proposed Notes Issue has been entered into as at the date of this announcement, the Proposed Notes Issue may or may not materialise. Investors and shareholders of the Company are urged to exercise caution when dealing in the securities of the Company. A further announcement in respect of the Proposed Notes Issue will be made by the Company should the Purchase Agreement be signed.

DEFINITIONS

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

"Barclays"	Barclays Bank PLC
"BNP PARIBAS"	BNP Paribas
"Board"	the board of Directors
"Company"	Redco Properties Group Limited, a company
	incorporated in the Cayman Islands with limited
	liability, the shares of which are listed on the main
	board of the Stock Exchange
"connected person"	has the meaning ascribed to it in the Listing Rules
"Credit Suisse"	Credit Suisse (Hong Kong) Limited
"Deutsche Bank"	Deutsche Bank AG, Singapore Branch
"Directors"	the directors of the Company
"EEA"	European Economic Area
"Group"	the Company and its subsidiaries
"Haitong International"	Haitong International Securities Company Limited
"HeungKong Financial"	HeungKong Securities Limited
"Hong Kong"	the Hong Kong Special Administrative Region of
	the People's Republic of China
"Notes"	the guaranteed U.S. Dollar denominated senior
	sustainability notes to be issued by the Company
"PRC"	the People's Republic of China, excluding Hong
	Kong, Macau Special Administrative Region and
	Taiwan for the purpose of this announcement

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"Proposed Notes Issue"	the proposed issue of the Notes by the Company
"Purchase Agreement"	the agreement proposed to be entered into by and
	among Credit Suisse, Standard Chartered Bank,
	Barclays, BNP PARIBAS, Deutsche Bank, Haitong
	International, HeungKong Financial, UBS, the
	Company and the Subsidiary Guarantors in relation
	to the Proposed Notes Issue
"Securities Act"	the United States Securities Act of 1933, as
	amended
"SGX-ST"	Singapore Exchange Securities Trading Limited
"Stock Exchange"	The Stock Exchange of Hong Kong Limited
"Subsidiary Guarantees"	the guarantees provided by the Subsidiary
	Guarantors in respect of the Notes
"Subsidiary Guarantors"	the subsidiaries of the Company which guarantee
	the Notes
"UBS"	UBS AG Hong Kong Branch (UBS AG is
	incorporated in Switzerland with limited liability)
"UK"	the United Kingdom
"United States"	the United States of America
"U.S. Dollars" or "US$"	United States dollar(s), the lawful currency of the
	United States
	By Order of the Board
	Redco Properties Group Limited
	Wong Yeuk Hung
	Chairman
Hong Kong, 7 April 2021

As at the date of this announcement, the executive directors of the Company are Mr. Wong Yeuk Hung, Mr. Huang Ruoqing and Mr. Tang Chengyong; and the independent non-executive directors of the Company are Dr. Wong Yau Kar, David GBS, BBS, JP, Mr. Chau On Ta Yuen SBS, BBS and Mr. Yip Tai Him.

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