Patsy Ho, the chairperson of Macau Casino Co., Ltd., purchased company bonds worth approximately $3 million through several transactions in early March. According to disclosure documents submitted to the Hong Kong Stock Exchange, Patsy Ho bought 6.5% senior notes issued by SJM International Limited in three separate transactions from March 6 to March 10, which are due in 2031. Simply put, the company's boss is buying her own bonds with real money, casting a vote of confidence in the market.
Transaction details: Purchased in three parts, with slight fluctuations in average price
The first transaction occurred on March 6, where Patsy Ho bought $1.5 million worth of notes at an average price of about $999.93 per 1000 units. On March 9, she further increased her holdings by purchasing $1 million at an average price of about $989.11. On March 10, she bought another $500,000 at an average price of about $995.29. The documents show that after the transactions, Patsy Ho, as the beneficial owner, increased her total principal amount of bonds held from zero to $3 million.
Bond background: $540 million issued, due in 2031
These bonds are part of a total of $540 million, 6.5% interest rate, senior unsecured notes due in 2031 issued by SJM International. The documents indicate that the notes are freely transferable but cannot be converted into shares of the issuer or other companies. SJM Holdings is one of the six licensed casino operators in Macau, operating casinos such as Grand Lisboa and Lisboa. Patsy Ho is the daughter of the late casino magnate Stanley Ho and currently serves as the chairperson and executive director of the company. Interested in the latest capital movements of Macau's gaming enterprises? Follow PASA official website for ongoing updates.
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