Galaxy raises $240 million from privately placed CB

The five-year bonds have a zero coupon and zero yield that provides the casino operator with cheap financing for its ongoing development on the Cotai Strip.

Casino operator Galaxy Entertainment Group has raised a total of $240 million from the sale of convertible bonds through a private placement that will enable it to finance its ongoing construction projects at zero interest cost.

The bond issue was arranged by JPMorgan and Merrill Lynch, who acted both as joint placement agents and as buyers of the bonds. Aside from the two investment banks, another four investment funds took part in the initial sale that was completed on...

To continue reading, please login or register for free

Click for more on: convertible | gaming | casino | merrill lynch | jpmorgan

Print Edition

FinanceAsia Print Edition


  • 2nd Compliance Summit Southeast Asia

    17 August 2017  |  Singapore
    The 2017 Compliance Summit Southeast Asia will take an in-depth look at the key compliance considerations today with a focus on regulation and new ...