Paul Hastings Advises Sino-Ocean Land In Landmark US$900 Million Convertible Securities Offering

July 16, 2010

Hong Kong (July 16, 2010) Paul, Hastings, Janofsky & Walker, a leading global law firm, announced today that it has advised Sino-Ocean Land Holdings Ltd. (Sino-Ocean Land) in relation to the issue by its subsidiary, Sino-Ocean Land Capital Finance Limited, of perpetual subordinated convertible securities in the aggregate principal amount of US$900 million.

The convertible securities are perpetual with no fixed redemption date and will be listed on the Singapore Exchange Securities Trading Limited (SGX) upon completion. BOCI Asia Limited, J.P. Morgan Securities Ltd. and Macquarie Capital Securities Ltd. are joint lead managers of the deal. This ground-breaking convertible securities issue is the first in Hong Kong where the securities are recognized as equity on the balance sheet of the issuer upon issue.

Raymond Li, a corporate partner in Paul Hastings Hong Kong office, commented: We are pleased to have advised our long-time client Sino-Ocean Land on this successful and unique convertible securities offering. Paul Hastings has previously advised on a number of landmark transactions regarding equity linked securities and this deal further highlights the strength of our capabilities in advising our clients on such transactions.

Sino-Ocean Land was established in 1993 and is one of the largest real estate companies in China, with significant presence in Beijing and other major markets across the country. It is listed on the Main Board of The Hong Kong Stock Exchange and is ranked among the 10 largest property companies listed in Hong Kong.

The Paul Hastings team in Hong Kong was led by corporate partners Raymond Li, Neil Torpey, Vivian Lam, David Grimm and Catherine Tsang assisted by associates Celia Chau, Pei Fang, Eve Chan, John Baptist Chan, Vivien Ho, Andy Lau, Matthew Smith, Cerin Yip and Tracy Yuan. Our Hong Kong team was supported by Christian Parker and Emma Osbaldeston in our London office, tax partners Douglas Schaaf and Alexander Lee in Los Angeles and 40 Act specialist Wendell Faria in Washington, D.C.

Paul, Hastings, Janofsky & Walker is a leading global law firm with offices in Asia, Europe, and the United States. We provide innovative legal solutions to financial institutions and Fortune 500 companies. Please visit

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