Melco Resorts Finance Ltd, a unit of Nasdaq-listed Melco Resorts and Entertainment Ltd, announced on Friday the pricing of an international offering of senior notes in the aggregate amount of US$650 million.
The offering consists of 4.875 percent senior notes due 2025, said Melco Resorts Finance in a press release.
Melco Resorts Finance said it intends to use the net proceeds from the offering – together with proceeds in the amount of US$350 million from a drawdown of a revolving credit facility and cash on hand – to fund the redemption of all of its outstanding 5.00 percent senior notes due 2021.
The new notes are proposed to be senior obligations of Melco Resorts Finance, ranking equally with all of the firm’s existing and future senior indebtedness.
Melco Resorts – which owns and operates casino properties in Macau and in the Philippines – has said that it would not be a guarantor of the new notes to be offered by its subsidiary.
Melco Resorts announced in early May that it would repurchase Crown Resorts Ltd’s remaining shareholding in the firm, using the proceeds from an offering of American depository shares and ordinary shares and backed by several investment banks. That deal was completed on May 15.
May 14, 2021Casino equipment provider Scientific Games Corp has appointed Trevor Ross (pictured) as its new sales director for Asia. Mr Ross assumed the new role in May 2021, after serving as...
”While we recognise we have more work to do, we welcome ILGA’s indication today that Crown’s reform implementation is well-advanced towards suitability to operate gaming at Crown Sydney”
Executive chairman of Australian casino operator Crown Resorts