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Melco Crown Entertainment Limited Message Board

  • drewaccountable drewaccountable Aug 29, 2007 9:45 AM Flag



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    • Yes, you are correct. Is does smell a little fishy. Are you predicting some price move on Aug 31 ?

    • No, we are going to the $11's

      Ho got a little to ahead of himself on the Conf call, wait and see if they actualy release the details of the Asian Tranche financing, I'm sure the rates are now 2-3% higher than expected and may even be delayed further.

      The good news is priced in, the bad isn't!!!

      • 1 Reply to theconmanjd
      • Chief financial officer Simon Dewhurst told analysts that the company was currently in the process of finalising the Asian tranche of the loan package, which he said would be completed in the next two weeks.

        ANZ is one of five banks co-ordinating the loan in Asia, alongside Banc of America Securities Asia, Barclays Capital, Deutsche Bank and UBS.

        "The Asian bank loan market is quite separate from the US debt market and it is currently open for business," Mr Dewhurst said.

        "We are confident that this Asian tranche will be completed in the next two weeks."

        Company executives, on the telephone briefing for analysts, deflected questions about the problems with the proposed US fundraising, pointing to the progress in raising the Asian tranche.

        Mr Dewhurst said the company did not need the whole $US2.75 billion to complete the City of Dreams, its largest proposed project in Macau, which is currently being built by Leighton Holdings.

        It is due to open in 2009.

        "We're in syndication here in the Asian bank market," he said.

        "I'm not going to go into any more specifics in relations to that. It's the first attempt to syndicate any portion of the facility and we're comfortable with the progress that we've made to date."

16.245+0.155(+0.96%)10:02 AMEDT