Studio City Finance Announces Pricing of 5.000% Senior Notes Offering
May 11 2021 - 2:40PM
Studio City Finance Limited (“
Studio City
Finance”) announces that it has priced its international
offering of 5.000% senior notes due 2029 (the “
Additional
Notes”). Studio City Finance is a wholly-owned subsidiary
of Studio City International Holdings Limited
(“
SCIHL”).
The offering consists of US$350 million
aggregate principal amount of Additional Notes, priced at 101.50%
of the principal amount plus accrued interest from January 14, 2021
to, but not including, the issue date of the Additional Notes.
Studio City Finance intends to use the net proceeds from the
offering to partially fund the capital expenditures of the
remaining project for Studio City and for general corporate
purposes.
The Additional Notes are proposed to be senior
obligations of Studio City Finance, ranking equally with all of
Studio City Finance’s existing and future senior indebtedness and
will constitute additional notes under the indenture, dated January
14, 2021 pursuant to which Studio City Finance issued
US$750 million aggregate principal amount of 5.000% Senior
Notes due 2029 (the “Original Notes”) on January
14, 2021. The Additional Notes will be issued on the same terms and
conditions (other than the issue date and issue price) as the
Original Notes and will be consolidated and form a single series
with the Original Notes. The Additional Notes are proposed to be
guaranteed by all of Studio City Finance’s existing restricted
subsidiaries on a senior basis (the “Note
Guarantees”). SCIHL will not be a guarantor of the
Additional Notes.
The Additional Notes and the Note Guarantees are
being offered and sold in the United States to qualified
institutional buyers pursuant to Rule 144A under the U.S.
Securities Act of 1933, as amended (the “Securities
Act”), and outside of the United States in reliance on
Regulation S under the Securities Act. The Additional Notes and the
Note Guarantees have not been and will not be registered under the
Securities Act or under the securities laws of any state or other
jurisdiction and may not be offered or sold in the United States
absent registration or an applicable exemption from the
registration requirements of the Securities Act and any applicable
state laws. Studio City Finance does not intend to register any
portion of the offering of the proposed Additional Notes and the
Note Guarantees in the United States.
This press release in for information purposes
only. Nothing in this press release constitutes an offer to buy, or
a solicitation of an offer to sell, securities in the United States
or any other jurisdiction in which such offer or solicitation would
be unlawful. This press release is being issued pursuant to and in
accordance with Rule 135c under the Securities Act.
Safe Harbor Statement
This press release contains forward-looking
statements. These statements are made under the “safe harbor”
provisions of the U.S. Private Securities Litigation Reform Act of
1995. Statements that are not historical facts, including
statements about Studio City Finance’s beliefs and expectations,
are forward-looking statements. Forward-looking statements involve
inherent risks and uncertainties, and a number of factors could
cause actual results to differ materially from those contained in
any forward-looking statement. These factors include, but are not
limited to, (i) the global pandemic
of COVID-19, caused by a novel strain of the coronavirus,
and the continued impact of its consequences on our business, our
industry and the global economy, (ii) growth of the gaming
market and visitations in Macau, (iii) capital and credit
market volatility, (iv) local and global economic conditions,
(v) our anticipated growth strategies, (vi) gaming
authority and other governmental approvals and regulations, and
(vii) our future business development, results of operations
and financial condition. In some cases, forward-looking statements
can be identified by words or phrases such as “may”, “will”,
“expect”, “anticipate”, “target”, “aim”, “estimate”, “intend”,
“plan”, “believe”, “potential”, “continue”, “is/are likely to” or
other similar expressions. Any forward-looking statements made in
the Additional Notes offering documents speak only as of the date
thereof and all information provided in this press release is as of
the date of this press release, and Studio City Finance does not
undertake any duty to update such information, except as required
under applicable law.
For investment community, please contact:Robin
YuenDirector, Investor RelationsTel: +852 2598 3619Email:
robinyuen@melco-resorts.com
For media enquiries, please contact:Chimmy
LeungExecutive Director, Corporate CommunicationsTel: +852 3151
3765Email: chimmyleung@melco-resorts.com
Studio City (NYSE:MSC)
Historical Stock Chart
From Mar 2024 to Apr 2024
Studio City (NYSE:MSC)
Historical Stock Chart
From Apr 2023 to Apr 2024