Melco moves forward with US$500mln senior notes offering

Melco Resorts & Entertainment Limited announced that it has already priced its US$500 million (MOP3.9 billion) international offerings of senior notes in 5.750 per cent senior notes due 2028.

The offering is being conducted by its subsidiary, Melco Resorts Finance Limited, with the net proceeds from to be used make a repayment of the principal amount outstanding for a HK$14.85 billion revolving credit facility initiated in April of this year by another of its subsidiaries, MCO Nominee One Limited.

The senior notes are being offered and sold in the United States to qualified institutional buyers with the offering one of several moves by Melco Resorts to increase available liquidity.

Last week, Studio City International Holdings Limited (SCIHL), the company responsible for managing the Studio City property, announced that it will initiate a series of private placements expected to generate gross proceeds of not less than US$450 million and up to approximately US$500 million.