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Macau casino developer Melco Crown announces pricing of Rmb bonds

Newsdesk by Newsdesk
Fri 29 Apr 2011 at 12:44
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PRESS RELEASE

New York, April 29, 2011 —Melco Crown Entertainment Limited (the “Company”) (NASDAQ: MPEL), a developer and owner of casino gaming and
entertainment resort facilities focused on the Macau market, today announced the pricing of its international offering of RMB-denominated bonds.

The offering consists of RMB2.3 billion (or approximately US$355.6 million based on an exchange rate of RMB6.4685 to US$1.00) aggregate principal
amount of 3.75% bonds due 2013. The bonds were priced at par and the Company intends to use the net proceeds from the offering to fund potential future
growth and expansion opportunities, which may include acquisitions, to repay existing debt, to partially pre-fund certain scheduled interest payments on the
bonds, for working capital requirements and/or for general corporate purposes. The Company may redeem the bonds at its option in whole, but not in part, at
any time after May 9, 2012, at their principal amount.

The bonds will be direct, general, unconditional, unsubordinated and unsecured obligations of the Company which will at all times rank pari passu without
any preference or priority among themselves and at least pari passu with all of the Company’s other present and future unsecured and unsubordinated
obligations, save for such obligations as may be preferred by provisions of law that are both mandatory and of general application.

Approval in-principle has been received for the listing of the bonds on the Singapore Exchange Securities Trading Limited (the “SGX-ST”). Admission of the
bonds to the SGX-ST is not to be taken as an indication of the merits of the Company or the bonds.

The bonds are being offered outside the United States pursuant to Regulation S under the Securities Act of 1933, as amended (the “Securities Act”). The
bonds have not been and will not be registered under the Securities Act or applicable state securities laws 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 applicable state law.

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Tags: bondsMelco Resorts & EntertainmentRmbSingapore Exchange
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Newsdesk

The IAG Newsdesk team comprises some of the most experienced journalists in the Asian gaming industry. Offering a broad range of expertise, their decades of combined know-how spans multiple countries across a variety of topics.

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