COGO delays dollar debut to tighten COC
Property developer China Overseas Grand Oceans Group (COGO) postponed a debut dollar deal this week after investors demanded a tighter change of control clause. The issuer amended the terms and is giving buyers time to digest the new wording before trying again, said a syndicate official on the deal. But fund managers said COGO’s starting spread was ambitious regardless of how the clause was worded.
Unlock this article.
The content you are trying to view is exclusive to our subscribers.
To unlock this article:
- ✔ 4,000 annual insights
- ✔ 700+ notes and long-form analyses
- ✔ 4 capital markets databases
- ✔ Daily newsletters across markets and asset classes
- ✔ 2 weekly podcasts