The Macau Metro Monitor, June 15, 2012
U.S. MUTUAL FUND SELLS SHARES IN SANDS AND WYNN Macau Business
Waddell & Reed Financial is offering 41MM shares in Sands China from HK$24.18 to $24.68 each, and 55.5MMshares in Wynn Macau. The goal is to raise about US$250MM (MOP2 BN), according to terms obtained by Bloomberg News.
WYNN MACAU LOOKS TO RAISE CASINO LOAN Macau Business
Wynn Macau is considering raising its Wynn Cotai loan to US$2.5BN (MOP20 BN) from its initial goal of US$1.5BN. According to Bloomberg sources, Wynn Macau drew around US$2.7BN in commitments in the first stage of syndication.
MELCO CROWN SAID TO CONSIDER ADDING BONDS TO LOAN Macau Business
MPEL is looking to raise about US$2.2BN (MOP17.6 BN) in debt via a bond and a loan. It had already been reported that the gaming operator was seeking about US$1.4BN in a syndicated loan. Now the chatter is that Melco Crown is also considering a bond of about US$800MM. The final size of the loan and bond hasn’t been decided, the sources said.
OKADA FILES NEW CLAIM IN BATTLE FOR WYNN RESORTS STAKE Reuters
Okada asked a federal judge in Nevada to immediately restore the rights of his Universal Entertainment Corp. subsidiary, Aruze USA, as the largest shareholder of Wynn Resorts. Okada also filed an amended counterclaim against Wynn, the company's general counsel and individual board members.
SINGAPORE HOME SALES IN MAY DECLINE TO LOWEST THIS YEAR Business Week
According to Urban Redevelopment Authority, Singapore’s May private home sales fell 32% from a month ago, posting the lowest sales this year as the Europe crisis damped demand. Private home sales fell to 1,702 units last month from this year’s peak of 2,496 units in April.
SINGAPORE'S Q1 UNEMPLOYMENT UP SLIGHTLY, JOB VACANCIES FALL Channel News Asia
According to the latest labour market report released on Friday by the Ministry of Manpower, the unemployment rate edged up to 2.1% in March, from 2.0% in December 2011. After adjusting for seasonality, job vacancies dropped 9.7% over the quarter to 50,000, though this was still higher than the recent low of 49,200 registered in September 2011.