Ontario Teachers’ Pension Plan to take 9.15 percent stake in Louis XIII Holdings

Louis XIII Holdings says Ontario Teachers’ Pension Plan, Canada’s largest single profession pension fund, will hold a 9.18 percent stake in the company following the purchase of convertible bonds worth $38.7 million. The issue was part of a wider financing to raise a total of $133.5 million to fund the development of a casino resort in Cotai. The OTPP bonds will convert into 36.45 million shares at HK8.23 a piece.