Studio City Finance Ltd, the financing arm of the promoter of the Studio City casino resort (pictured) in Macau’s Cotai district, said in a Thursday filing it had repurchased nearly US$37.6 million of the aggregate principal of its outstanding 6.000-percent senior notes due in 2025.
The notes repurchased represented circa 7.5 percent of the aggregate principal amount of such borrowings at the time of their initial listing on the Singapore Exchange. The repurchased notes have been cancelled, said the company, a subsidiary of Studio City International Holdings Ltd.
Melco Resorts & Entertainment Ltd is the majority owner of the Studio City resort.
Earlier this month another unit of Studio City International Holdings – Studio City Co Ltd – secured five-year revolving credit facilities worth just under HKD1.95 billion (US$250.8 million).
In Melco Resorts’ third-quarter results, the casino brand said its group debt was US$7.17 billion as of September 30, down circa US$57 million on the prior quarter, “primarily as a result of the repurchases of the 6.00 percent senior notes due 2025 issued by Studio City Finance Ltd”.
