{"id":19081,"date":"2021-06-16T14:35:31","date_gmt":"2021-06-16T14:35:31","guid":{"rendered":"https:\/\/focusgn.com\/asia-pacific\/?p=19081"},"modified":"2026-04-23T18:30:41","modified_gmt":"2026-04-23T21:30:41","slug":"__trashed-11","status":"publish","type":"post","link":"https:\/\/focusgn.com\/asia-pacific\/__trashed-11","title":{"rendered":"NagaCorp completes issue of US$200m in senior notes"},"content":{"rendered":"\n

NagaCorp has announced that its additional US$200m issue of 7.95 per cent senior notes has completed.<\/p>\n\n\n\n\n\n\n\n

Cambodia.-\u00a0NagaCorp\u00a0<\/strong>has announced it has completed its issue of\u00a0US$200m in 7.95 per cent senior notes<\/strong>.<\/p>\n\n\n\n

The group had previously stated that after fees, commissions and expenses, the net proceeds would amount to US$211.6m<\/strong>.<\/p>\n\n\n\n

The group will use the funds to strengthen the group\u2019s working capital<\/strong> as well as for general corporate purposes.<\/p>\n\n\n\n

NagaCorp profits\u00a0<\/strong>have been deeply affected by the Covid-19 pandemic. The company has made layoffs and pay cuts<\/a>.<\/p>\n\n\n\n

NagaWorld<\/a>\u00a0has been closed since March due to a rise in Covid-19 cases. Although\u00a0restrictions have been confirmed until June 16<\/strong>, it is still unknown if the casino venue will reopen its doors this week.<\/p>\n\n\n\n

The company was heavily criticized by unions<\/strong>\u00a0after announcing the\u00a0layoff of almost 600 employees<\/a>.\u00a0<\/p>\n\n\n\n

According to the company, the layoffs are necessary due to the ongoing closure of its casino, <\/strong>but, according to local media, workers claims the layoffs are designed to reduce union presence in the workplace.<\/p>\n\n\n\n

The casino operator said: \u201cWe believe that it is important for the Group to maintain operational and financial flexibility <\/strong>to ensure that it remains focused and efficient during this period. <\/p>\n\n\n\n

\u201cTo reduce the impact on our employees, we will provide affected employees with enhanced termination compensation<\/strong> over and above payments required by the applicable Cambodian laws to assist their transition into other career or business interests.\u201d <\/p>\n\n\n\n

NagaCorp to fully recover by 2022<\/strong><\/h2>\n\n\n\n

Moody\u2019s Investor Service Inc<\/strong>\u00a0has predicted\u00a0NagaCorp’s revenue<\/a>\u00a0will reach 40 per cent of 2019 levels this year but won’t see a full recovery until 2022. Analysts said the recovery will depend on a reopening of NagaWorld in the second half of 2021.<\/p>\n\n\n\n

According to Moody\u2019s, the new notes will provide\u00a0NagaCorp with \u201csufficient liquidity\u201d to support its cash needs<\/strong>\u00a0\u201cover the next 18 to 24 months\u201d.\u00a0<\/p>\n","protected":false},"excerpt":{"rendered":"

NagaCorp has announced that its additional US$200m issue of 7.95 per cent senior notes has completed.<\/p>\n","protected":false},"author":176,"featured_media":17521,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"is_press_release":false,"is_interview":false,"is_opinion":false,"focusai_summary":"NagaCorp has completed a US$200m senior notes issue, with net proceeds of US$211.6m, to bolster working capital and for general corporate purposes. This capital injection addresses financial strain from the prolonged NagaWorld closure in Cambodia due to COVID-19, which has led to significant layoffs and union disputes. Moody's projects a partial revenue recovery in 2021, with full recovery anticipated by 2022, contingent on NagaWorld's reopening.","focusai_entities":"NagaCorp, NagaWorld, Moody's Investor Service Inc","focusai_location":"Cambodia","focusai_target_profile":"ceo_executive (1.0), regulator (0.7), operator_casino (1.0), investor_analyst (1.0), supplier_vendor (0.7), journalist_researcher (1.0)","focusai_suggestions":[{"label":"Debt Structure Impact","query":"How does the issuance of these 7.95% senior notes alter NagaCorp's overall debt maturity profile and cost of capital, particularly in light of its current operational challenges?"},{"label":"Recovery & Reopening Triggers","query":"What specific epidemiological or governmental policy triggers are anticipated for the reopening of NagaWorld, and how might a delayed reopening beyond H2 2021 impact Moody's recovery projections and NagaCorp's liquidity runway?"}],"footnotes":""},"categories":[16336,163],"tags":[2336],"class_list":["post-19081","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-australasia-news","category-finance-news","tag-nagacorp"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/19081","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\/176"}],"replies":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/comments?post=19081"}],"version-history":[{"count":2,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/19081\/revisions"}],"predecessor-version":[{"id":19105,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/19081\/revisions\/19105"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/17521"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=19081"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=19081"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=19081"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}