Lawrence Ho Yau Lung’s “family office” Black Spade Capital launched the world’s first pataca-denominated corporate bond yesterday with Tai Fung Bank.
Ho, who was reportedly ill, did not attend the launch ceremony held at Morpheus Hotel at City of Dreams, one of the gaming properties operated by Ho’s Melco Resorts and Entertainment. Ho is the son of gaming mogul Stanley Ho Hung Sun.
According to a statement available only in Chinese, the corporate bond is valued at 2 billion patacas and has a maturity rate of two years, offering investors a coupon rate of 3.1 percent.
Black Spade Capital President and CEO Dennis Tam Chi Wai speaks to reporters on the sidelines of yesterday’s event at Morpheus Hotel in the City of Dreams complex yesterday. Photo: Monica Leong
