Cambodian casino operator Nagakov said it had repurchased some senior notes “on the open market” due in July 2024.
The exercise, which was conducted between Aug. 9 and Aug. 10, included a total of $1.6 million in principal, about 0.29% of the $550 million principal amount of 7.95%, according to data submitted to the Hong Kong Stock Exchange on Friday.
“The Company will continue to monitor market conditions and financial structures and may further repurchase 2024 senior bonds in due course,” it said.
Nagakov holds exclusive rights to the long-lived casino in Phnom Penh, Cambodia’s capital, and runs the Nagaworld complex (Naga 2, photo).
Nagakov made a profit of $52.7 million in the first half of the year, compared to a loss of $77.2 million in the first half of 2021. The Nagakov complex was closed for much of the six months of its opening in 2021 due to COVID-19 measures.
The company announced in early June last year that it would issue a 7.95% senior bond for a total principal amount of $200 million, with a maturity date of July 6, 2024.
The non-convertible notes were set to be consolidated in the same series as the $350 million notes issued in 2020.
In a June 2021 memo, Moody’s Investors Service said Nagakov, combined with bills issued in 2020, should provide “sufficient liquidity” to support cash demand “for the next 18 to 24 months”.
BY : 카지노사이트