Lucror Analytics

Lucror Analytics is a leading credit and ESG research specialist and a provider of technology solutions for differentiated fixed income strategies. Our roots are in bottom-up fundamental credit analysis with a specialization in high yield corporate credits from Europe, Asia and Latin America. We are one of few research specialists integrating ESG considerations with fundamental credit research through a dedicated ESG platform. Our ESG assessment covers five key criteria: Disclosure, E,S, & G Pillars, Controversies, ESG Impact on Credit and ESG Momentum.

Recognizing the importance and value-add of Factor Investing in fixed income, Lucror developed the Smart Quant Navigator (SQN), an intuitive platform that helps clients devise and implement factor-based strategies ranging from pure quant to active fundamental, with integrated ESG.

Our company has been at the forefront of developments in the fixed income markets, identifying opportunities and consistently delivering new products and value-adding solutions to clients. Lucror has close relationships with the largest and most reputable asset managers, family offices, hedge funds, investment and wealth managers globally.

High Yield Experts

Senior Credit Analyst, Lucror Analytics

Leonard Law, CFA

Senior Credit Analyst

Credit

Genting Berhad’s subsidiary, Resorts World Las Vegas LLC (RWLV), is holding roadshows to market an issuance of USD 300 mn Reg-S/144A 7-year senior unsecured notes. The notes are rated BB+/BBB- by S&P and Fitch, respectively. The new notes will rank pari passu with the existing USD 1.35 bn of RWLVCA notes. Proceeds from the notes issuance will be used to refinance a USD 300 mn subordinated shareholder loan from Genting Assets Inc. Hence, the transaction will be leverage neutral. We see fair value for the proposed RWLVCA 2030 notes at c. 8.5%, as we expect the bonds to price in line with the existing curve. That said, there could be strong demand for the notes, given the small issuance size and dearth of issuance in the Asia crossover space so far this year.

  Genting Berhad’s subsidiary, Resorts World Las Vegas LLC (RWLV), is holding roadshows to market an issuance of USD 300 mn Reg-S/144A 7-year senior unsecured notes. The notes are rated BB+/BBB- by S&P and Fitch, respectively. The new notes will rank pari passu with the existing USD 1.35 bn of RWLVCA notes.   Proceeds from the notes issuance will be used to refinance a USD 300 mn subordinated shareholder loan from Genting Assets Inc. Hence, the transaction will be leverage neutral.   We see fair value for the proposed RWLVCA 2030 notes at c. 8.5%, as we expect the bonds to price in line with the existing curve. That said, there could be strong demand for the notes, given the small issuance size and dearth of issuance in the Asia crossover space so far this year. 

Genting Berhad - Event Flash - Resorts World Las Vegas To Issue USD 300 Mn 7Y Notes - Lucror Analytics

Genting Bhd

Genting Berhad - Event Flash - Resorts World Las Vegas To Issue USD 300 Mn 7Y Notes - Lucror Analytics