• About Us
  • The Team
  • Advertise with Us

The latest news on the gaming industry in Asia

() () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () ()
  • Home
  • Macau
  • Philippines
  • Singapore
  • Japan
  • Rest of Asia
  • World
  • Industry Talk
  • Trends & Tech
  • iGaming
  • follow
    • Facebook
    • Twitter
    • RSS Feed
    • LinkedIn

Studio City Intl prices US$350mln in notes due 2027

Feb 10, 2022 Newsdesk Latest News, Macau, Top of the deck  


Studio City Intl prices US$350mln in notes due 2027

A unit of Studio City International Holdings Ltd, promoter of the Studio City casino resort in Macau, has priced its offering of US$350-million in 7.00-percent senior secured notes due in 2027, according to a Wednesday filing. The note offering will be conducted by the group’s subsidiary Studio City Co Ltd.

The net proceeds will be used partially to fund the capital cost of the under-construction Phase 2 of Studio City, and the rest being used for general corporate purposes.

Moody’s Investors Service Inc has issued a ‘Ba3’ rating with ‘negative’ outlook to the senior secured notes to be issued by Studio City Co. The Ba3 rating is considered by Moody’s as below investment grade, with “speculative elements” that are “subject to substantial credit risk”.

On Monday, Studio City International also announced that it has entered into subscription agreements for a private placement offering of US$300 million, priced at US$0.75 per share. It announced that its existing shareholders, which hold in aggregate over 99 percent of the outstanding shares, have subscribed to the offering.

It includes a commitment from casino operator Melco Resorts and Entertainment Ltd to purchase just above 220 million shares of Studio City International, in an aggregate amount of US$165.1 million.

Standard & Poor’s Global Ratings had noted in a Monday memo that the fresh financing linked to the Studio City complex, should enable its owner to “withstand a zero-revenue scenario for at least a year”.

Studio City International said in a Monday filing in the United States that the budget for Phase 2 of the casino resort had been cut to approximately US$1.2 billion.


  • tweet
Related articles
  • Emperor Ent back in black with US$1.5mln interim profit
    Emperor Ent back in black with...

    Nov 29, 2023  

  • Bruno Mars to perform at MGM Cotai in Jan: MGM China
    Bruno Mars to perform at MGM Cotai in...

    Nov 28, 2023  

More news
  • Hokkaido pref assembly LDP members push for IR review
    Hokkaido pref assembly LDP members push...

    Nov 29, 2023  

  • Sega Sammy eyes cross-sales with GAN acquisition: mgmt
    Sega Sammy eyes cross-sales with GAN...

    Nov 29, 2023  


Latest News

Hokkaido pref assembly LDP members push for IR review

Hokkaido pref assembly LDP members push for IR review

Nov 29, 2023  

Members of Japan’s Liberal Democratic Party (LDP) that sit in the Hokkaido prefectural assembly will launch a working group to study the feasibility of the country’s northernmost prefecture...
Read More
Sega Sammy eyes cross-sales with GAN acquisition: mgmt

Sega Sammy eyes cross-sales with GAN acquisition: mgmt

Nov 29, 2023  

SOFTSWISS Jackpot Aggregator powers US$1.7bln in 3Q bets

SOFTSWISS Jackpot Aggregator powers US$1.7bln in 3Q bets

Nov 29, 2023  

Sign up to our FREE Newsletter

UB8V5.qr.16(Click here for more)

Pick of the Day

”There’s been a 20 percent or 30 percent increase in our testing staff to handle globally the amount of extra work that we’ve got, and the Philippines and Macau have definitely contributed to that overall growth”

Ian Hughes

Chief commercial officer of testing and certification firm GLI



Most Popular

  • Bruno Mars to perform at MGM Cotai in Jan: MGM ChinaBruno Mars to perform at MGM Cotai in Jan: MGM China November 28, 2023
  • Ex-exec of Saipan casino-tied firm jailed by Beijing courtEx-exec of Saipan casino-tied firm jailed by Beijing court November 27, 2023
  • Nomura caution on China economy, China tourism in AsiaNomura caution on China economy, China tourism in Asia November 28, 2023
  • China ents provider iQiyi in deal for Galaxy Arena eventsChina ents provider iQiyi in deal for Galaxy Arena events November 28, 2023
  • Kazuo Okada properly removed from IR op: Philippine courtKazuo Okada properly removed from IR op: Philippine court November 28, 2023
Copyright 2014-2023 TEAM Publishing and Consultancy Ltd / All rights reserved
  • Code of Ethics
  • Privacy Policy
  • Useful Links
  • Contact Us