Paul Hastings Advises Sino-Ocean Land in its US$400 Million Perpetual Subordinated Capital Securities Issuance

May 17, 2011

Hong Kong (May 17, 2011) Paul, Hastings, Janofsky & Walker, a leading global law firm, announced today that it has advised Sino-Ocean Land Holdings Ltd (Sino-Ocean Land), one of the largest real estate companies in Beijing, on its US$400 million perpetual subordinated capital securities issue. This marks the first perpetual capital securities issue by a Chinese property company. Goldman Sachs, BOC International and HSBC acted as the joint lead managers on the transaction.

Paul Hastings debt capital markets team has previously advised Sino-Ocean Land on a range of transactions including the landmark issue by its subsidiary of perpetual subordinated convertible securities in the aggregate principal amount of US$900 million. The team also advised on China Life Insurances subscription of new shares in Sino-Ocean Land valued at US$750 million and Sino-Ocean Lands US$700 million loan facility.

The Paul Hastings team was led by partners Vivian Lam and Neil Torpey with support from associates Celia Chau, Pei Fang, Matthew Smith and Ling Ling.

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