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Hong Kong's Galaxy talks three-year renminbi notes at 5% area yield
By Christine Van Dusen
Atlanta, Dec. 9 - Hong Kong's Galaxy Entertainment Group Ltd. set guidance for its planned issue of RMB 1 billion three-year fixed-rate senior unsecured bonds at the 5% area, a market source said.
Bank of America Merrill Lynch, BOC International, HSBC and UBS are the bookrunners for the Regulation S transaction.
Proceeds will be used as general working capital for the issuer's and its subsidiaries' non-gaming business and will provide additional financial flexibility.
Galaxy operates casinos, hotels and entertainment facilities in Macau through subsidiary Galaxy Casino SA.
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