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.
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