Genting Singapore (G13.SG) is down 1.4% at $2.17 on light profit-taking after a sustained rise over the past 7 sessions.

The gaming group’s move to refinance $4.19 billion of loans doesn’t appear to have caught investors’ eye, despite being offered more favourable terms.

Still, one analyst from a Singapore house says the refinancing will go some way in helping Genting’s profitability as the interest rates charged for the loans obtained in 2008 to build Resorts World Sentosa were around 4% vs the new 7-year syndicated loan’s 1.6% for the first 3 months, then pegged at the SGD swap offer rate plus 1.2% to 1.6%; “rates are so low now. They are doing everything they can to maintain their profitability.”

The Bank of Tokyo-Mitsubishi UFJ, DBS, HSBC, OCBC and Sumitomo Mitsui Banking are behind the syndicated loan. Support is tipped at the 10-day moving average, last at $2.10.