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Galaxy Casino Price Talk Emerges

6 December 2005

SINGAPORE – As reported by Dow Jones: "Price talk on the $500 million two-tranche bond from Macau's Galaxy Casino is for a yield in the 10% area for the seven-year fixed-rate bond, not callable for the first four years, and around 500 basis points over the London interbank offered rate for the five-year floating-rate note callable after three years, people familiar with the deal said Tuesday.

"Galaxy Casino, owned by Hong Kong's K Wah Construction Corp. (0027.HK), could price the bond as early as Wednesday, the people said.

"…The deal will be the second from the gaming sector in Asia with only Malaysia's Genting Bhd. having bonds outstanding…"

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