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NagaCorp signs purchase agreement for US$300 million notes, plans Naga1 upgrades

Newsdesk by Newsdesk
Wed 16 May 2018 at 07:19
NagaWorld

NagaWorld

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Cambodian casino operator NagaCorp has announced that it has secured a purchase agreement with Credit Suisse and Morgan Stanley in connection with the issue of US$300 million 9.375% senior notes due 2021.

In a filing to the Hong Kong Stock Exchange, NagaCorp said it will issue the notes in an aggregate principal amount of US$300 million with the notes to mature on 21 May 2021 unless redeemed earlier. The offer price of the notes will be 99.362% of the principal amount.

It added that it intends to use the proceeds from the issue of notes “to promote gaming business growth, particularly in the VIP gaming segment, and to refurbish the hotel rooms in Naga1.”

NagaCorp launched its US$390 million NagaWorld extension, Naga2, in Phnom Penh in December.

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Tags: CambodiaCredit SuisseHong Kong Stock ExchangeMorgan StanleyNagaCorpNagaWorldPhnom Penhsenior notes
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The IAG Newsdesk team comprises some of the most experienced journalists in the Asian gaming industry. Offering a broad range of expertise, their decades of combined know-how spans multiple countries across a variety of topics.

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