Studio City Finance Announces Proposed 5.000% Senior Notes Offering
Studio City Finance has announced a proposed international offering of 5.000% senior notes due in 2029, aiming to raise funds for capital expenditures and general corporate purposes. This offering follows a previous issuance of US$750 million in senior notes under the same indenture. The new notes will be offered to qualified institutional buyers in the U.S. and abroad, though they will not be registered under the Securities Act. The success of this offering is contingent upon market conditions and investor interest.
- Proposed issuance of 5.000% senior notes due 2029 to raise funds for capital expenditures.
- Follows previous issuance of US$750 million senior notes, indicating ongoing funding strategy.
- Completion of the offering is subject to market conditions, introducing uncertainty.
- No binding agreement in place, which may affect the issuance and timing of the notes.
MACAU, May 10, 2021 (GLOBE NEWSWIRE) -- Studio City Finance Limited (“Studio City Finance”) announces that it proposes to conduct an international offering of
The proposed Additional Notes will be issued under the indenture, dated January 14, 2021 (the “Indenture”), pursuant to which Studio City Finance issued US
The issue price of the Additional Notes will be determined at the time of pricing of the proposed offering. Completion of the proposed offering of the Additional Notes is subject to market conditions and investor interest. As no binding agreement in relation to the proposed offering of the Additional Notes has been entered into as at the date of this press release, the proposed Additional Notes may or may not be issued.
The Additional Notes and the Note Guarantees are being proposed to be offered and sold in the United States to qualified institutional buyers pursuant to Rule 144A under the U.S. Securities Act of 1933, as amended (the “Securities Act”), and outside of the United States in reliance on Regulation S under the Securities Act. The proposed Additional Notes and the Note Guarantees will not be registered under the Securities Act or under the securities laws of any state or other jurisdiction and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the Securities Act and any applicable state laws. Studio City Finance does not intend to register any portion of the offering of the proposed Additional Notes and the Note Guarantees in the United States.
This press release is for information purposes only. Nothing in this press release constitutes an offer to buy, or a solicitation of an offer to sell, securities in the United States or any other jurisdiction in which such offer or solicitation would be unlawful. This press release is being issued pursuant to and in accordance with Rule 135c under the Securities Act.
Safe Harbor Statement
This press release contains forward-looking statements. These statements are made under the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. Statements that are not historical facts, including statements about the Studio City Finance’s beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties, and a number of factors could cause actual results to differ materially from those contained in any forward-looking statement. These factors include, but are not limited to, (i) the global pandemic of COVID-19, caused by a novel strain of the coronavirus, and the continued impact of its consequences on our business, our industry and the global economy, (ii) growth of the gaming market and visitations in Macau, (iii) capital and credit market volatility, (iv) local and global economic conditions, (v) our anticipated growth strategies, (vi) gaming authority and other governmental approvals and regulations, and (vii) our future business development, results of operations and financial condition. In some cases, forward-looking statements can be identified by words or phrases such as “may”, “will”, “expect”, “anticipate”, “target”, “aim”, “estimate”, “intend”, “plan”, “believe”, “potential”, “continue”, “is/are likely to” or other similar expressions. Any forward-looking statements made in the Additional Notes offering documents speak only as of the date thereof and all information provided in this press release is as of the date of this press release, and Studio City Finance does not undertake any duty to update such information, except as required under applicable law.
For investment community, please contact:
Robin Yuen
Director, Investor Relations
Tel: +852 2598 3619
Email: robinyuen@melco-resorts.com
For media enquiries, please contact:
Chimmy Leung
Executive Director, Corporate Communications
Tel: +852 3151 3765
Email: chimmyleung@melco-resorts.com
FAQ
What are the details of Studio City Finance's proposed senior notes offering?
When are the senior notes from Studio City Finance due?
What is the total principal amount of the senior notes issued previously by Studio City Finance?
Who can purchase the additional notes from Studio City Finance?
Are the additional notes guaranteed by Studio City International Holdings?
