On 21 October 2020, Greentown China Holdings Limited, the Subsidiary Guarantors, Credit Suisse, UBS, Citigroup, GF Securities, Guotai Junan International, Mizuho Securities, The Bank of East Asia, Limited, China Everbright Bank Hong Kong Branch, CLSA, Haitong International and DBS entered into the Purchase Agreement in connection with the Notes Issuance in the aggregate principal amount of USD 300,000,000. The Company estimates that the gross proceeds from the Notes Issuance, without deducting subscription discounts and commissions and other estimated expenses payable in connection with the Notes Issuance, will be USD 300 million. The Company intends to use the net proceeds to refinance existing indebtedness due within the next 12 months with original maturity of at least one year. The Notes will only be offered outside of the United States in compliance with Regulation S under the Securities Act. The Notes have not been and will not be registered under the Securities Act. None of the Notes will be offered to the public in Hong Kong and none of the Notes will be placed with any connected persons of the Company. Subject to certain conditions to completion, the Company will issue the Notes in the aggregate principal amount of USD 300,000,000 which will mature on 29 April 2025, unless earlier redeemed pursuant to the terms hereof. The offering price of the Notes will be 100% of the principal amount of the Notes. The Notes will bear interest from and including 29 April 2021 at a rate of 4.70% per year, payable semi-annually in arrears on 29 April and 29 October of each year.