{"id":7594,"date":"2020-06-25T21:22:02","date_gmt":"2020-06-25T21:22:02","guid":{"rendered":"https:\/\/focusgn.com\/asia-pacific\/?p=7594"},"modified":"2026-04-24T04:08:20","modified_gmt":"2026-04-24T07:08:20","slug":"nagacorp-raises-us350-in-senior-notes-issue","status":"publish","type":"post","link":"https:\/\/focusgn.com\/asia-pacific\/nagacorp-raises-us350-in-senior-notes-issue","title":{"rendered":"NagaCorp raises US$350 in senior notes issue"},"content":{"rendered":"\n

The Cambodian group has confirmed it has entered a purchase agreement for US$350 million 7.95% senior notes.<\/p>\n\n\n\n\n\n\n\n

Cambodia.- NagaCorp has confirmed it has reached a purchase agreement for senior notes with Credit Suisse, Morgan Stanley and UBS representing several initial purchasers. <\/p>\n\n\n\n

It said it had entered into a purchase agreement for US$350 million 7.95% senior convertible notes due in 2024.<\/p>\n\n\n\n

NagaCorp said in a filling that after fees, commissions and expenses, the net proceeds would amount to US$336.88 million.<\/p>\n\n\n\n

The group will use the funds to redeem some or all of its outstanding 2021 notes, as well as for general corporate purposes.<\/p>\n\n\n\n

The casino operator announced the strategy earlier this week in a bid to recover finances and gain enough liquidity to sustain its expenses for another 18 months under troubled market conditions.<\/p>\n\n\n\n

Part of the issue was to be offered to selected investors, while NagaCorp’s founder Chen Lip Keong said he would acquire up to US$45 million to show confidence in the plan.<\/p>\n\n\n\n

Casinos have been closed in Cambodia since the beginning of April<\/a><\/em><\/strong>, and NagaCorp has faced protests from workers demanding the company pay part of their salaries.<\/p>\n\n\n\n

<\/p>\n","protected":false},"excerpt":{"rendered":"

The Cambodian group has confirmed it has entered a purchase agreement for US$350 million 7.95% senior notes.<\/p>\n","protected":false},"author":2,"featured_media":7596,"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 secured US$350 million through the issuance of 7.95% senior convertible notes due 2024, underwritten by Credit Suisse, Morgan Stanley, and UBS. The net proceeds of US$336.88 million will be utilized for refinancing existing 2021 notes and bolstering general corporate liquidity for 18 months amidst challenging market conditions and operational closures in Cambodia. Founder Chen Lip Keong's significant investment underscores confidence in the financing strategy.","focusai_entities":"NagaCorp, Credit Suisse, Morgan Stanley, UBS, Chen Lip Keong","focusai_location":"Cambodia","focusai_target_profile":"ceo_executive (0.95), regulator (0.7), operator_casino (0.9), investor_analyst (1.0), supplier_vendor (0.75), journalist_researcher (0.9)","focusai_suggestions":[{"label":"Debt Structure Impact","query":"What is the projected impact of this convertible note issuance on NagaCorp's debt-to-equity ratio and overall cost of capital, considering the 2021 notes redemption?"},{"label":"Liquidity & Burn Rate","query":"How does NagaCorp's enhanced liquidity position, post-financing, align with its operational burn rate and capital expenditure requirements for the next 18-24 months under current market conditions?"}],"footnotes":""},"categories":[163,158,16333],"tags":[30,2336],"class_list":["post-7594","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance-news","category-slider-home","category-south-east-asia-news","tag-cambodia","tag-nagacorp"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/7594","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=7594"}],"version-history":[{"count":2,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/7594\/revisions"}],"predecessor-version":[{"id":7608,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/7594\/revisions\/7608"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/7596"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=7594"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=7594"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=7594"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}