Kejie advised Sino-Ocean Land on the issuance of US$400,000,000 Perpetual Subordinated Capital Securities Callable 2016(“Securities”).  The completion of the issuance of the Securities took place on 13 May, 2011(“Issue Date”) and Sino-Ocean Land intends to use the net proceeds of the issuance of the Securities to finance new and existing projects and for general corporate purpose. Goldman Sachs (Asia) L.L.C., BOC International and HSBC were appointed as the joint lead managers and joint bookrunners for the issuance of the Securities.

The Securities are perpetual securities and confer a right to receive distribution from the Issue Date at the distribution rate which shall be (i) in respect of the period from, and including the Issue Date to, but excluding the 5th anniversary date of the Issue Date (“First Call Date”), 10.25% per annum; and (ii) in respect of the periods (A) from, and including, the First Call Date to, but excluding the immediately following Reset Date (which means the First Call Date and each day falling every five calendar years after the First Call Date) and (B) from, and including, each Reset Date falling after the First Call Date to, but excluding, the immediately following Reset Date, 8.31% plus 3% per annum plus Treasury Rate with respect to the relevant Reset Date.

Kejie team has advised Sino-Ocean Land on the issuance of US$900,000,000 Perpetual Subordinated Convertible Securities Callable 2015 issued in 2010, as well as the issuance of RMB2.6 billion Corporate Bonds issued in 2009.

Kejie team was led by partner He Jie and included Li Xin, Zhang Fang, Gao Yuan, Yang Fan, Chen Guangyao, Chen Ying, Liu Bo and Wang Hongyu.