Paul Hastings, a leading global law firm, announced today that it represented Sino-Ocean Land Holdings Limited (“Sino-Ocean Land”), one of the leading property developers in China whose shares are listed on the Hong Kong Stock Exchange, on a 3-year multi-currency term loan facility in the principal amount of approximately US$600 million-equivalent, with US dollar, HK dollar and RMB tranches.
The facility will be provided by a syndicate of 10 banks with Bank of China (Hong Kong) Limited, Agricultural Bank of China Limited Hong Kong Branch, The Hong Kong and Shanghai Banking Corporation Limited and Hang Seng Bank Limited as mandated lead arrangers and bookrunners. Proceeds from the facility will be used to refinance an existing term loan facility and to finance its general working requirements, including real estate development projects in China.
Paul Hastings previously advised Sino-Ocean Land on its US$215 million term loan facility in 2008 and its US$700 million term loan facility in 2009.
The Paul Hastings team was led by partner Vivian Lam, with support from associate Erika Wan.
