Hong Kong's Galaxy Entertainment plans three-year fixed-rate renminbi-denominated senior bonds

By Marisa Wong

Madison, Wis., Dec. 6 - Galaxy Entertainment Group Ltd. said it plans to issue three-year fixed-rate renminbi-denominated senior unsecured bonds.

Bank of America Merrill Lynch, BOCI International, HSBC and UBS will be the joint bookrunners for the offering.

Proceeds will be used as general working capital for the issuer's and its subsidiaries' non-gaming business and will provide additional financial flexibility.

The interest rate and other terms of the bonds will be determined at pricing.

Based in Hong Kong, Galaxy operates casinos, hotels and entertainment facilities in Macau through subsidiary Galaxy Casino SA.

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