Melco Resorts Finance Ltd says it has priced at 100 percent its international offering of US$600 million worth of 5.625 percent senior notes due 2027.
The company issued on Wednesday a written statement saying it will use the net proceeds of the offering to repay part of the sum borrowed in 2015 by a subsidiary, Melco Resorts (Macau) Ltd, under a revolving credit facility.
Melco Resorts Finance is an arm of Melco Resorts and Entertainment Ltd, a Nasdaq-listed operator of casinos.
Melco Resorts (Macau) holds the Melco Resorts and Entertainment’s company gaming sub-concession in Macau.
Melco Resorts and Entertainment has been expanding its investments in recent months. The company announced in May that it was paying US$1.2 billion to acquire a 19.99-percent stake in Australian gaming operator Crown Resorts Ltd.
In a press briefing in early June, Melco Resorts and Entertainment’s chairman and chief executive Lawrence Ho Yau Lung said that the company would still have a “manageable” leverage ratio following the Crown Resorts deal.
Melco Resorts and Entertainment said in late June it was acquiring all of its parent’s interest in the entity developing the City of Dreams Mediterranean casino resort in the Republic of Cyprus. Under the deal, representing a consideration value of approximately US$375 million, Melco Resorts and Entertainment will acquire the ICR Cyprus shares in exchange for 55.5 million ordinary units of its own shares.
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"In light of the ongoing Covid-19 disruption and continued travel restrictions across Asia Pacific, G2E Asia has shifted its focus to 2022 to ensure we meet the show’s high expectations, which we share with our valued exhibitors and attendees”
Project director at Reed Exhibitions, one of the organisers of the G2E Asia trade event