Monday, April 09, 2012

Genting S'pore to offer up to S$500m worth of perpetual securities

SINGAPORE: Casino and leisure group Genting Singapore said it intends to offer up to S$500 million worth of perpetual subordinated capital securities.
The securities will have a coupon rate of 5.125 per cent per annum until October 2022 and 6.125 per cent after that.
In the event of oversubscription, Genting added that it may issue up to an additional S$200 million worth of securities to satisfy the excess demand.
DBS Bank is the sole global co-ordinator for the offering and DBS Bank and OCBC Bank are the joint lead managers and bookrunners for the offering.
Just last month, Genting had launched S$1.8 billion in perpetual securities to fund its investment plans.
- CNA/cc

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