The deal priced with a 2.4% coupon and attracted $300 million in demand. Exchangeable at a premium of 40% over a share price of $12.28 the reference price starting one year from the date of issue, the offering includes a three-year put and is non-callable for three years. The transaction closed at 98.5.
The funds raised from the transaction will allow Melco International and PBL to buy...
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