Support My Efforts By Visiting The Advertisers


This is a personal blog. The opinions expressed here represent my own, not those of my employer and is not intended to malign any religion, ethnic group, club, organization, company, or individual.

$500m Offer of Genting Perpetual Securities

>> Thursday, 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 has no particular dividend policy.

Anyway, at the looks of the market being so hungry for anything that pays a fixed decent return better than bank interest rates, retail investors will be snapping up this issue and it looks set to be heavily over subscribed.




The owner of this blog does not share personal information with third-parties nor does the owner store information is collected about your visit for use other than to analyze content performance through the use of cookies, which you can turn off at anytime by modifying your Internet browser’s settings. The owner is not responsible for the republishing of the content found on this blog on other Web sites or media without permission.

Blog Comments

The owner of this blog reserves the right to edit or delete any comments submitted to this blog without notice due to;

1. Comments deemed to be spam or questionable spam
2. Comments including profanity
3. Comments containing language or concepts that could be deemed offensive
4. Comments that attack a person individually

Terms and Conditions

All content provided on this blog is for informational purposes only. The owner of this blog makes no representations as to the accuracy or completeness of any information on this site or found by following any link on this site. The owner will not be liable for any errors or omissions in this information nor for the availability of this information. The owner will not be liable for any losses, injuries, or damages from the display or use of this information.

This policy is subject to change at anytime.

About This Blog

To promote the education of individuals for the need to have a healthy lifestyle and wealth management through proper financial planning, particularly in investments.

Top Blogs


Top Sites

  © Blogger templates Sunset by 2008

Back to TOP