Paradise Delays Bond Issue

Sun, Nov 27, 2016

South Korean casino operator Paradise Co. has postponed the issuance of three-year bonds “due to increased volatility in the financial market at home and abroad,” according to a statement from the company last week.

South Korean gaming operator Paradise Co. has announced it will delay the issue of three-year bonds to increase the capital of subsidiary Paradise Segasammy Co., which manages the firm’s business in Yeongjong Island in Incheon.

According to the Asia Gaming Brief, Paradise planned to sell KRW 100 billion (US$85.1 million) worth of three-year bonds in what would have been its first bond sale. An increase in borrowing rates was behind the postponement, AGB reported.

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