Universal Entertainment sells $600M bonds for Okada’s Manila Bay Resorts

For those who have spare change, Kazuo Okada has an offer you can’t refuse.

The Japanese gaming mogul’s Universal Entertainment Corporation is selling $600 million worth of bonds to fund Okada’s Philippine venture, the Manila Bay Resorts.

The offshore corporate notes, which are due on 2020, were listed on the Singapore Stock Exchange last Aug. 24. The bonds have a yield of 12 percent per annum.

“The notes will be quoted and traded in United States Dollars (US$). The noted will be in denomination of US$250,000