COLI exchangeable tender gets 96.4% take-up

Meanwhile, the size of the new exchangeable bond into the same company was fixed at $750 million after good response from both existing and new investors.

COLI exchangeable tender gets 96.4% take-up

Existing bondholders came out in force to take up the tender offer for China Overseas Holdings’ existing exchangeable bonds EBs into Hong Kong-listed property developer China Overseas Land Investment COLI.

According to an announcement put out by COLI on Sunday, investors tendered $482.2 million worth of EBs, or 96.4% of the $500 million outstanding principal. Also, a large number of new investors put in orders for the new zero-coupon EB issued by unlisted China...

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