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Melco PBL to raise US$592 mln via ADS -term sheet

Tue Oct 30, 2007 9:09pm EDT

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HONG KONG, Oct 31 (Reuters) - Casino operator Melco PBL Entertainment (Macau) Ltd (MPEL.O) is selling 37.5 million American Depositary Shares (ADS) to raise about US$592 million with a 15 percent over-allotment option, according to a term sheet.

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It will be priced with reference to the closing prioce of MPEL's shares on Oct. 31.

The term sheet said the post deal market capitalisation of the company would be US$6.6 billion.

UBS AG, Deutsche Bank Securities Inc and Citigroup Global Markets Inc are underwriters.

Earlier this month, the company filed with U.S. regulators to raise up to $800 million via ADS.

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