by Amruth Sundarkumar | Jan 12, 2023 | High Yield Bonds, Southeast Asia
Lippo Karawaci’s bond buyback will broaden funding diversity and reduce foreign-currency risk, Fitch noted, contingent on the buyback being accepted. Lippo had launched a tender offer and consent solicitation yesterday for its $405mn 8.125% 2025s and $417mn...
by Amruth Sundarkumar | Dec 19, 2022 | High Yield Bonds, Southeast Asia
Macau’s six incumbent casino operators (MGM, Galaxy Casino, Venetian Macau, Melco Resorts, Wynn Macau and SJM) are expected to invest $14.7bn over the next decade for non-gaming projects to increase international traffic. Venetian has committed to spend MOP 27.8bn...
by Amruth Sundarkumar | Dec 9, 2022 | High Yield Bonds, Southeast Asia
Indonesian energy company Indika Energy bought back $30.94mn of its outstanding 8.25% 2025s on the open market bringing the new outstanding value of the notes at $567.94m. The price at which it bought back the notes was not revelaed. Indika Energy Capital IV is the...
by Amruth Sundarkumar | Nov 29, 2022 | High Yield Bonds, Southeast Asia
Dollar bonds of Macau casino operators jumped by over 5% yesterday after new licenses were given to the six incumbent casino operators to operate from January. This was a relief rally as GMM, backed by Genting’s Chairman Sri Lim Kok Thay missed out as uncertainty for...
by Amruth Sundarkumar | Nov 28, 2022 | Southeast Asia
Macau’s six incumbent casino operators will be given new licenses to operate from January as GMM, backed by Genting’s Chairman Sri Lim Kok Thay missed out. The license application by Genting in September was seen as a surprise to many executives and would pose...
by Amruth Sundarkumar | Nov 23, 2022 | High Yield Bonds, Southeast Asia
Some of Genting’s dollar bonds dropped 4-7% on Tuesday. This comes as Parti Islam Se-Malaysia, or PAS witnessed electorate gains in Malaysia, causing a drop in shares of “sin” or “vice” companies that operate in sectors such as alcohol...
