Crown Raises $630M

Sun, May 3, 2015

Taking advantage of low interest rates, Crown Resorts raised $630 million by offering 6.3 million subordinated notes at an issue price of $100 per note. The funds will be used to finance projects in Sydney, Perth and elsewhere.

Australian gaming and entertainment company Crown Resorts has raised 0 million to support a number of projects Down Under. According to Asia Gaming Brief, the sale of 6.3 million subordinated notes at 0 per note will be used for “general corporate purposes” including financing Crown Sydney, Crown Towers Perth and other projects.

Analyst Jon Mills of the website Intelligent Investor wrote that the sale took advantage of historically low interest rates and is “weighted in the company’s favor.”

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