By Wendy Van Sickle
Columbus, Ohio, May 14 – NagaCorp Ltd. priced $300 million of three-year 9 3/8% senior notes (B1) at 99.362 on Monday, according to an announcement.
Credit Suisse and Morgan Stanley are the joint global coordinators, joint bookrunners and joint lead managers for the Regulation S offering.
The company intends to use the proceeds from the new notes to promote gaming business growth, particularly in its VIP gaming segment, and to refurbish hotel rooms in the Naga1 casino and hotel resort.
The hotel, gaming and leisure operator is based in Phnom Penh, Cambodia, with offices in Hong Kong.
| Issuer: | NagaCorp Ltd.
|
| Amount: | $300 million
|
| Maturity: | May 21, 2021
|
| Description: | Senior notes
|
| Bookrunners: | Credit Suisse and Morgan Stanley
|
| Coupon: | 9 3/8%
|
| Price: | 99.362
|
| Call: | Make-whole call for first two years, after which callable at prices set out in indenture
|
| Put option: | At 101 upon a change of control
|
| Equity clawback: | For up to 35% at 109.375 until May 21, 2020
|
| Ratings: | Moody’s: B1
|
| Trade date: | May 14
|
| Settlement date: | May 21
|
| Distribution: | Regulation S
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
