Melco’s latest bond covers dual redemptions

Melco Crown Entertainment priced a $1bn eight year non-call three bond on Wednesday, helping the company finance a tender offer for another dollar deal as well as repay a maturing renminbi note.

  • 31 Jan 2013
The company’s bookrunners priced the February 2021 deal at par to yield 5%. It proved a relatively easy sell: after the deluge of Chinese property supply high yield investors are eager for diversification, and many were familiar with Melco after a recent Studio City deal, said a banker ...

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5 Credit Agricole CIB 3,046.24 15 6.18%

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5 Barclays 2,307.33 19 7.31%

Bookrunners of European Corporate IG Bonds

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1 Barclays 4,228.88 14 6.78%
2 Citi 4,092.60 11 6.56%
3 Deutsche Bank 3,663.73 11 5.87%
4 SG Corporate & Investment Banking 3,548.58 14 5.69%
5 Bank of America Merrill Lynch 3,179.12 11 5.09%