GEG Announces Subscription of HK$100 Million for Social Bonds Issued by BOC Macau

March 5, 2020 – Galaxy Entertainment Group (“GEG”) has been working hand-in-hand with different sectors of the community in preventing the spread of COVID-19. To ease the operating pressures and provide assistance to local SMEs that have been affected by the epidemic, today, under the witness of Mr. Lei Wai Nong, Secretary for Economy and Finance of Macao SAR Government, GEG announced the subscription of HK$100 million of the SMEs themed COVID-19 Impact Alleviation Social Bonds (“the Social Bonds”) that were recently issued by Bank of China (Macau Branch) (“BOC Macau”).

The Social Bonds were issued in response to the Macau SAR Government’s call to support affected SMEs overcome their challenges during the COVID-19 epidemic. The proceeds raised will be used to provide special loans and reduce the financing costs of Macau SMEs that provides health care and medical supplies or manufactures medical devices, etc., so as to support the recovery of the local production and supply of epidemic prevention and control products. This is the first certified Social Bond issued by a Chinese issuer.

Committed to support Macau’s development of economic diversification, GEG considers local SMEs as its key partner and has adopted the “Large Businesses Leading Small Businesses” model to support and nurture their development. Mr. Francis Lui, Vice Chairman of GEG, said, “Different organizations in Macau have been standing strong together in the fight against the COVID-19. We appreciate the prompt efforts made by BOC Macau to support local SMEs and foster the recovery of the local economy, including the issuance of the Social Bonds.”

Mr. Lui added, “Through BOC Macau’s financial market insight, professional services, and rich experiences in working with SMEs, GEG believes our HK$100 million subscription of the Social Bonds will help offer prompt and efficient assistance to local SMEs and alleviate their operating and financing pressures amid this critical period.” To support the local community in prevention and other efforts against the COVID-19, GEG has also rolled out an array of practical initiatives, including waiving the fixed rental fee of all GEG’s tenants for the month of February. 

Mr. Li Guang, General Manager of BOC Macau, said, “Different sectors of the community have been working together since the outbreak of the COVID-19. As a mainstream bank in Macau, BOC Macau has proactively provided different financial services for Macau’s SMEs. With a long-term relationship with BOC, GEG’s subscription of the Social Bonds, the first epidemic-themed issuance in external market, demonstrates GEG’s support for SMEs amid the epidemic and its commitment to contribute to the recovery of the local economy.  BOC Macau will continue to strengthen our partnership with GEG in a hope to accelerate the recovery of Macau’s prosperity.”

GEG will stay in close contact with BOC Macau and explore with them other proposals that facilitate the recovery of the local economy. Meanwhile, GEG will continue to work closely with various stakeholders to battle the epidemic in a hope that our community would resume normal soon. Recently, GEG donated a total of MOP25 million to Macau and Hubei province to support the epidemic prevention and control measures; and donated one million surgical masks to the Macau SAR Government, Zhuhai City Government and Hengqin New Area Government to support their disease prevention and control efforts. GEG has also been in close contact with different social service organizations and local schools in order to provide those in need with prompt assistances.