{"id":777017569,"date":"2024-07-25T09:48:48","date_gmt":"2024-07-25T12:48:48","guid":{"rendered":"https:\/\/focusgn.com\/asia-pacific\/?p=777017569"},"modified":"2026-04-22T07:48:58","modified_gmt":"2026-04-22T10:48:58","slug":"universal-entertainment-raises-us800m-from-new-notes","status":"publish","type":"post","link":"https:\/\/focusgn.com\/asia-pacific\/universal-entertainment-raises-us800m-from-new-notes","title":{"rendered":"Universal Entertainment raises US$800m from new notes"},"content":{"rendered":"\n<p class=\"wp-block-paragraph\">Universal Entertainment raised funds for the refinancing of existing overseas private placement notes.<\/p>\n\n\n\n<!--more-->\n\n\n\n<p class=\"wp-block-paragraph\">The Philippines.- <strong>Universal Entertainment Corporation<\/strong> has announced that it has raised US$800m in funds to refinance its US$760m in overseas private placement notes maturing in December 2024. <\/p>\n\n\n\n<p class=\"wp-block-paragraph\">It said it would <a href=\"https:\/\/focusgn.com\/asia-pacific\/universal-entertainment-to-issue-new-notes\" target=\"_blank\" rel=\"noreferrer noopener\">issue new US dollar-denominated private placement notes<\/a> on July 26 via an overseas private placement for US$400m, with an interest rate of 9.875 per cent per annum, maturing on August 1, 2029. The remaining US$400 million was obtained through a seven-year loan arranged by Tiger Resort, Leisure and Entertainment, the promoter of Okada Manila, with China Banking Corp. The loan will commence on August 1.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">It said: &#8220;The refinancing has been comprised with the bank loan by TRLEI and the new notes by the company, considering the adequacy of the repayment plan for each borrowing entity&#8217;s ongoing business, the tax effect on the company&#8217;s interest expense, and the diversification of lenders and repayment dates.&#8221;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><a href=\"https:\/\/focusgn.com\/asia-pacific\/fitch-assigns-b-rating-to-universal-ents-proposed-2029-notes\" target=\"_blank\" rel=\"noreferrer noopener\">Fitch Ratings<\/a>\u00a0gave\u00a0<strong>Universal Entertainment<\/strong>\u2019s proposed US dollar-denominated private placement notes an anticipated rating of B-. The final rating is contingent upon receiving documents that conform to the provided information and verify that the new funds will be sufficient to redeem the maturing notes in full.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Universal Entertainment raised funds for the refinancing of existing overseas private placement notes.<\/p>\n","protected":false},"author":176,"featured_media":0,"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 has successfully raised US$800m through a combination of new overseas private placement notes and a seven-year bank loan arranged by Tiger Resort, Leisure and Entertainment (TRLEI). This capital infusion is designated for the refinancing of US$760m in existing private placement notes maturing in December 2024. Fitch Ratings has assigned an anticipated B- rating to the proposed notes, contingent on final documentation.","focusai_entities":"Universal Entertainment Corporation, Tiger Resort, Leisure and Entertainment, Okada Manila, China Banking Corp, Fitch Ratings","focusai_location":"Philippines","focusai_target_profile":"ceo_executive (0.95), operator_casino (0.9), investor_analyst (1.0), supplier_vendor (0.75), journalist_researcher (0.9)","focusai_suggestions":[{"label":"Refinancing Impact on GGR?","query":"How might this refinancing structure and associated interest rates impact Universal Entertainment's net gaming revenue (NGR) and overall gross gaming revenue (GGR) projections for Okada Manila in the coming fiscal years?"},{"label":"Debt Structure Diversification?","query":"What are the long-term implications of diversifying lenders and repayment dates on Universal Entertainment's capital allocation strategy and its capacity for future M&A activities or expansion projects?"}],"footnotes":""},"categories":[157,16333],"tags":[23686],"class_list":["post-777017569","post","type-post","status-publish","format-standard","hentry","category-business-news","category-south-east-asia-news","tag-universal-entertainment"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777017569","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=777017569"}],"version-history":[{"count":2,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777017569\/revisions"}],"predecessor-version":[{"id":777017584,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777017569\/revisions\/777017584"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=777017569"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=777017569"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=777017569"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}