Paul Hastings has advised Chinese state-run property developer Sino-Ocean Land Holdings Ltd. on a $1.2 billion note issuance.

The Hong Kong-listed Sino-Ocean, a division of state-owned COSCO Group, develops mid- to high-end residential and commercial properties in mainland China. The company sold two tranches of bonds, one of five-year notes worth $500 million and a 10-year tranches worth $700 million. The proceeds will be used to repay existing debt and for general corporate purposes.

Hong Kong partner Vivian Lam and London partner Christian Parker led the Paul Hastings team advising Sino-Ocean. Maples and Calder Hong Kong partner Jenny Nip served as British Virgin Islands counsel to the company.

Linklaters acted for underwriters Australia and New Zealand Banking Group Ltd., Bank of China (Hong Kong) Ltd., DBS Bank Ltd., Deutsche Bank AG, Goldman Sachs (Asia), Hongkong and Shanghai Banking Corp. Ltd., J.P. Morgan Securities Plc., J.P. Morgan Securities (Asia Pacific) Ltd., Morgan Stanley & Co. International Plc. and UBS AG.

Email: tbrennan@alm.com.