Going private? Going private? A deal hasn’t been completed yet. Photo: Carla Gottgens
Investors in $1.16 billion of ASX-hybrid securities issued by Crown Resorts are nursing unexpected losses as a result of majority owner James Packer’s touted move to take the company private.
Crown’s two outstanding listed notes issues have declined by more than 10 per cent since talk first emerged that Mr Packer was considering privatising the casino group.
Crown’s $632 million of Subordinated Notes II which were issued in April of this year are trading at $81.00, almost 20 per cent below the $100 issue price.
At that pric…
Read the full article at: http://www.smh.com.au/business/crown-investors-nurse-hybrid-losses-20160119-gm966n.html