The huge sums owed by oil support services company Swiber Holdings - $721 million to DBS and another $551.8 million to bond holders - when it went belly up in July last year really made investors sit up. Genting Singapore recently announced its inten
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The huge sums owed by oil support services company Swiber Holdings - $721 million to DBS and another $551.8 million to bond holders - when it went belly up in July last year really made investors sit up. Genting Singapore recently announced its intention to redeem the $500 million of perps sold to retail investors five years ago that are paying an attractive coupon of 5.125 per cent. That was on top of the redemption of a $1.8 billion perp issue it had sold on the wholesale market to institutional investors. But then Genting operates a cash cow in its casino business and repayment is a breeze.
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