Galaxy reaches broad universe of investors

Huge orderbook allows Casino group to upsize Macau''s first international corporate bond.

Co-leads Merrill Lynch and Morgan Stanley have priced Macau's first ever global corporate bond offering with an upsized $600 million dual tranche offering for Galaxy Casino. The deal also represents Asia's second largest high-yield corporate offering behind Noble's $700 million offering in March.

The deal consists of a $350 million seven-year non-call four year fixed rate tranche and a shorter tenured $250 million five-year non-call three-year FRN.

The $350 million fixed...

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