NagaCorp Limited Expecting to raise $290 million to NagaWorld refurb

Asian casino operator NagaCorp Limited has declared that it is expecting to raise funds to cultivate its VIP business and refurbish its NagaWorld complicated in Cambodia by devoting roughly $300 million in senior notes bearing an annual rate of interest of 9.375%.

NagaCorp Limited announced that the notes will come due in 2021 and investors will not have the ability to transfer their outlay into stocks. The firm, which last month began construction on the foundations because of its coming 279-room Naga Vladivostok place in Russia, moreover stated that attention is to be paid off May 21 and November 21 although it has allowed the right to ‘adjust the programs’ on how it will spend the profits ‘in response to changing market conditions’.

GGRAsia reported that NagaCorp Limited holds an exclusive license to operate casinos in and about the Cambodian capital of Phnom Penh and inaugurated the first phase of its NagaWorld place in December 2006. Ever since then it has opened an expansion called Naga 2 with the two facilities being linked via the underground NagaCity Walk shopping mall complex.