New Issue: Sino Land prices HK$2 billion convertibles to yield 1.625%, up 33%

New York, Oct. 21 - Sino Land Co. Ltd. priced HK$2 billion of five-year convertible bonds to yield 1.625% with a 33% initial conversion premium.

J.P. Morgan Securities Ltd. was bookrunner for the offering, which was sold through Sino Land's Getsmart Finance Ltd. subsidiary.

The deal has a HK$500 million greenshoe.

The Hong Kong-based real estate development company will use proceeds for general corporate purposes.

Issuer:	Getsmart Finance Ltd. (Sino Land Co. Ltd.)
Issue:	Convertible bonds
Amount:	HK$2 billion
Greenshoe:	HK$500 million
Maturity:	Nov. 30, 2009
Coupon:	1.625%
Price:	Par
Redemption price:	Par
Yield:	1.625%
Conversion premium:	33%
Conversion price:	HK$9.225
Forced conversion:	Nov. 30, 2007 onwards subject to 130% hurdle
Put:	Nov. 30, 2007 at par
Bookrunner:	J.P. Morgan Securities Ltd.
Pricing date:	Oct. 19 after close
Settlement date:	Nov. 30

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