Goldman Upbeat as Casino Bonds Withstand Crackdown: China Credit
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Goldman Sachs Asset Management says Macau casino bonds that have rallied for 16 months are likely to withstand any crackdown aimed at cleaning up the industry.
Melco Crown Entertainment Ltd.’s 8.5 percent dollar notes due December 2020 rose every week this year for a 5.9 percent return, with the yield touching a record-low 6.84 percent on Feb. 14, data compiled by Bloomberg show. The yield on Galaxy Entertainment Group Ltd.’s 4.625 percent yuan securities reached