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Melco Crown raised $200 million

Melco Crown last month raised US0 million in a “follow-on” offering that was designed to correct a “quirk” in the company’s balance sheet that would have become a problem in 2010. While there aren’t many problem covenants for Melco Crown in the first year following the opening of its City of Dreams in Macau, this issue could have been serious as covenants ramp up next year. But the sale of these shares should mitigate that.

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