The casino and resort company will increase its notes offer from US$100 million to US$135 million.<\/p>\n\n\n\n\n\n\n\n
Japan.- In an attempt to raise capital and increase liquidity, Universal Entertainment Corp has announced it will increase a planned notes offer from US$100 million to US$135 million.<\/p>\n\n\n\n
The firm, which is the parent company of Okada Manila operator Tiger Resort Leisure and Entertainment (TRLEI), had previously announced plans for a consent solicitation\u00a0that would allow it to replace existing notes to the value of US$600 million due in 2021 with new notes due 2024, while also raising an additional US$100 million in capital.<\/p>\n\n\n\n
At that time, Unversal Entertainment said the company intended to use the cash proceeds for general corporate purposes.<\/p>\n\n\n\n
The consent solicitation and the exchange offer would serve to delay substantial repayments but wouldn’t raise any additional funds, hence the additional new notes.<\/p>\n","protected":false},"excerpt":{"rendered":"
The casino and resort company will increase its notes offer from US$100 million to US$135 million.<\/p>\n","protected":false},"author":2,"featured_media":11015,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"is_press_release":false,"is_interview":false,"is_opinion":false,"focusai_summary":"Universal Entertainment Corp, parent company of Okada Manila operator TRLEI, is increasing its notes offer from US$100 million to US$135 million to bolster liquidity and secure additional capital for general corporate purposes. This capital raise is distinct from a concurrent consent solicitation and exchange offer aimed at refinancing US$600 million in existing notes due 2021 with new notes maturing in 2024, thereby deferring significant debt repayments.","focusai_entities":"Universal Entertainment Corp, Okada Manila, Tiger Resort Leisure and Entertainment (TRLEI)","focusai_location":"Japan","focusai_target_profile":"ceo_executive (0.95), operator_casino (0.9), investor_analyst (0.98), supplier_vendor (0.75), journalist_researcher (0.85)","focusai_suggestions":[{"label":"Impact on Debt-to-Equity?","query":"What is the projected impact of this increased notes offer on Universal Entertainment's consolidated debt-to-equity ratio and overall financial leverage, particularly in the context of its gaming vertical operations?"},{"label":"TRLEI Operational Flexibility?","query":"How does the successful refinancing of the 2021 notes, coupled with the new capital raise, enhance TRLEI's operational expenditure flexibility and potential for future capital investments in the Okada Manila property?"}],"footnotes":""},"categories":[160,16338,163],"tags":[],"class_list":["post-11013","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-asia-pacific","category-east-asia-news","category-finance-news"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/11013","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/comments?post=11013"}],"version-history":[{"count":2,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/11013\/revisions"}],"predecessor-version":[{"id":11016,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/11013\/revisions\/11016"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/11015"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=11013"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=11013"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=11013"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}