genting-issues-second-cb-in-four-months

Genting issues second CB in four months

The deal comes as the company breaks ground for its Singapore casino resort, sending the share price sharply higher.
Genting International was back in the capital markets last night raising another S$450 million $297 million from a convertible bond issue that will go towards the development of its integrated casino resort on SingaporeÆs Sentosa Island.

The transaction comes only four months after the company sold S$425 million worth of five-year CBs that are already deeply in the money. It also coincided with yesterdayÆs high-profile groundbreaking ceremony for the new Singapore resort û to be called Resorts World at Sentosa û which created a lot of hype among retail investors in particular.

The ceremony was held as the Singapore government said it was no longer concerned about GentingÆs business integrity after the casino operator severed...
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