YTL Corporation Berhad - US$350 Million Issue of Exchangeable Bonds

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Slaughter and May Hong Kong acted for YTL Corp Finance (Labuan) Limited and YTL Corporation Berhad in relation to the issue by YTL Corp Finance (Labuan) Limited of US$350,000,000 1.875% guaranteed exchangeable bonds due 2015, with an upsize option of up to a further US$50,000,000 of bonds. The bonds are exchangeable into ordinary shares of, and unconditionally and irrevocably guaranteed by, YTL Corporation Berhad. The bonds were listed on the Singapore Stock Exchange on 19 March 2010 and an application will be made to list the bonds on the Labuan International Financial Exchange.

YTL Corporation Berhad, whose shares are listed on the Main Board of Bursa Securities, Malaysia, and the Tokyo Stock Exchange, is the holding company of an international group of companies undertaking the activities of an integrated infrastructure developer, comprising power generation, supply of water and the treatment and disposal of waste water, construction contracting, property development, manufacturing of industrial products and supplies, hotel development and management (including restaurant operations), and the provision of consultancy, incubating and advisory services for internet businesses.

Neil Hyman (partner), Simon Chan (associate)