In my previous post, Are Genting Singapore Perpetual Bonds at 5.125% Attractive? We looked at the Genting Singapore initial perpetual bond offering in minimum denominations of $250k. That effectively put its out of reach for most retail investors. However, with the successful raising of $1.8 billion, Genting is now opening up the option to retail investors with a minimum subscription of $5k.
General Information on Genting Perpetual Retail Bonds
Issue Size: $500 million with option for additional $200 million (Initial issue was $1.8 billion)
Denominations: Initial subscription size of $5k with increments of $1k (Initial issue was $250k)
Rating : Baa1 by Moody’s and A- by Fitch (Same)
Subordination : Senior subordinated (Same)
Callable : Callable after 5 1/2 Years from Issue Date (Same)
Maturity: No maturity date but will pay additional one percent in interest if not redeemed within 10 years (Same)
For discussions on Perpetual ......