Shares & Derivatives
$500m Offer of Genting Perpetual Securities
By Living Healthy, Staying Wealthy  •  April 12, 2012
Integrated resort/casino operator Genting will offer a second issue of perpetual securities worth S$500 million. Its first issue was a S$1.8 billion offering in March. Half of the offering is set aside for retail investors, S$50 million to be offered to directors and employees, and the balance S$200 million to institutional and other investors. There is also an option to issue another S$200 million in the event of over subscription. The bonds pay 5.125% annually. A quick calculation shows that Genting will need to foot at least almost S$118 million in interest payment per annum for all the perpetual securities. Despite this, Fitch Ratings is maintaining a Triple BBB rating for this tranche. Genting has indicated that the proceeds raised could be used to expand into Japan and South Korea. Some are even speculating Australia. Comparing with its own shares, the payout seems more attractive as the company ......
Read the full article
By Living Healthy, Staying Wealthy
Aaron Lau is a Independent Financial Adviser licensed by the Monetary Authority of Singapore to provide financial advice to individuals in Singapore. The main reason he is in the Financial Advisory industry is to share what he has learned after studying and comparing the various insurance and investment instruments in the market. He strongly feels that proper, quality financial planning is important to all individuals and sincerely would like to reach out to help as many as possible.
LEAVE A COMMENT
LEAVE A COMMENT

Your email address will not be published.

*

Your Email Address will not be published
*

Read More Articles
More from thefinance