Chinese developer upsizes CB to $284 million

Generous pricing and support from DBS boosts demand for China Overseas Grand Oceans Group's Hong Kong dollar-denominated CB.

Chinese developer upsizes CB to $284 million
Potential buyers check out a property fair in the Chinese city of Hangzhou (AFP)

China Overseas Grand Oceans Group, a state-backed Chinese property developer, early yesterday morning priced its Hong Kong dollar-denominated convertible bond issue at the issuer friendly end and exercised part of the upsize option for a total deal size of HK$2.2 billion $284 million.

The deal launched at about 7.30pm Hong Kong time on Tuesday, hot on the heels of a slightly smaller CB that was being offered by sportswear manufacturer and retailer 361...

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