Genting issues more bonds, this time for retail investors

Retail investors will finally get a bite of Genting Singapore's much publicised perpetual bond issue, after being left out of the first issue in March.

The integrated resort operator had raised $1.8 billion in a highly successful exercise in March but the minimum subscription size was $250,000, leading to some rumblings that small-time players were being left out in the cold.

But in its latest issue, announced by Genting Singapore on Monday, the subscription starts at $5,000, and investors will be able to subscribe in lots of $1,000 above that. The company hopes to raise $500 million from this exercise.

'This round is really for the retail investors, the man on the street,' said Genting Singapore's chief financial officer Lee Shi Ruh in a briefing. 'The purpose of this is really to tap on a different pool of investors.'