• Subscribe
  • Magazines
  • About
  • Contact
  • Advertise
Tuesday 16 September 2025
  • zh-hant 中文
  • ja 日本語
  • en English
IAG
Advertisement
  • Newsfeed
  • Mag Articles
  • Video
  • Opinion
  • Tags
  • Regional
    • Africa
    • Australia
    • Cambodia
    • China
    • CNMI
    • Europe
    • Hong Kong
    • India
    • Japan
    • Laos
    • Latin America
    • Malaysia
    • Macau
    • Nepal
    • New Zealand
    • North America
    • North Korea
    • Philippines
    • Russia
    • Singapore
    • South Korea
    • Sri Lanka
    • Thailand
    • UAE
    • Vietnam
  • Events
  • Contributors
  • SUBSCRIBE FREE
  • 中文
  • 日本語
No Result
View All Result
IAG
  • Newsfeed
  • Mag Articles
  • Video
  • Opinion
  • Tags
  • Regional
    • Africa
    • Australia
    • Cambodia
    • China
    • CNMI
    • Europe
    • Hong Kong
    • India
    • Japan
    • Laos
    • Latin America
    • Malaysia
    • Macau
    • Nepal
    • New Zealand
    • North America
    • North Korea
    • Philippines
    • Russia
    • Singapore
    • South Korea
    • Sri Lanka
    • Thailand
    • UAE
    • Vietnam
  • Events
  • Contributors
  • SUBSCRIBE FREE
  • 中文
  • 日本語
No Result
View All Result
IAG
No Result
View All Result

Melco announces latest liquidity boost with US$500 million Melco Resorts Finance senior notes offering

Newsdesk by Newsdesk
Wed 15 Jul 2020 at 05:27
Suncity re-opens City of Dreams VIP club with world-first indoor golf facility

City of Dreams Macau

31
SHARES
772
VIEWS
Print Friendly, PDF & Email

Melco Resorts Finance Limited, the wholly-owned subsidiary of Melco Resorts & Entertainment that operates Macau integrated resorts City of Dreams and Altira Macau, has announced plans to raise US$500 million via an offering of senior notes.

Proceeds of the 5.750% senior notes due 2028 will be used to make a repayment of the principal amount outstanding on the revolving credit facility under a senior facilities agreement entered into by MCO Nominee One Limited, a subsidiary of Melco Resorts Finance, on 29 April 2020 and for general corporate purposes, Melco said.

The offering comes just a week after another Melco Resorts subsidiary, Studio City operating entity Studio City International Holdings Ltd, announced its own US$500 million fund raising plan via a series of private placements.

Ratings agency Moody’s said on Tuesday that the notes issuance by Melco Resorts Finance and equity offering by Studio City International Holdings will further strengthen Melco Resorts’ group-wide liquidity.

“Melco Resorts & Entertainment’s liquidity sources, including its consolidated unrestricted cash of US$1.2 billion at the end of March 2020, a new US$1.9 billion five-year revolving credit facility and proceeds of about US$355 million from the disposal of its stake in Crown Resorts Limited provide adequate cushions against potential cash burn at least for the next 12 months,” Moody’s said.

However, with Melco reporting a 41% decline in revenue to US$811 million and 86% fall in EBITDA to US$55 million in 1Q20, there remains some risk.

“Moody’s expects negative EBITDA for the company for the second quarter of 2020,” it said.

Weakened earnings, coupled with the group’s planned capital spending, will result in significant negative free cash flow and an increase in net debt until sufficient recovery takes hold.

“While Moody’s expects MRE’s earnings and cash flow to improve gradually from the second half of 2020 once disruptions ease, the company’s financial metrics in 2021 will likely fall short of 2019 levels. Also, there is significant downside risk to this recovery assumption.”

RelatedPosts

Police arrest 100 people after detecting 62 cases of illegal money exchange in joint Macau operation

Police arrest 100 people after detecting 62 cases of illegal money exchange in joint Macau operation

Mon 15 Sep 2025 at 22:58
Melco wins sustainability awards for “Above and Beyond” strategy

Melco proposes new notes offering, looking to redeem outstanding 2026 notes

Mon 15 Sep 2025 at 22:49
Macau’s concessionaires could soon turn to virtual performers to keep pace with rising competition in global entertainment scene

Macau’s concessionaires could soon turn to virtual performers to keep pace with rising competition in global entertainment scene

Sun 14 Sep 2025 at 14:24
SJM reveals eco-friendly features of new Cotai IR

Fitch expecting SJM’s EBITDA leverage to widen in 2025 on slowing growth of Grand Lisboa Palace, satellite casino uncertainty

Sat 13 Sep 2025 at 10:57
Load More
Tags: Altira MacauCity of DreamsliquidityMacauMelco Resorts & EntertainmentMoody's investor servicesenior notes
Share12Share2
Newsdesk

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.

Current Issue

Editorial – Flipping the script

Editorial – Flipping the script

by Ben Blaschke
Thu 28 Aug 2025 at 12:30

This month represents an important milestone for Inside Asian Gaming as we launch IAG EXPO – an expansion of the...

Asia market roundup

Asia market roundup

by Ben Blaschke
Thu 28 Aug 2025 at 12:26

Inside Asian Gaming takes a deep dive into the state of Asia-Pacific’s key gaming markets: who’s hot, who’s not and...

Rewriting the rules

Rewriting the rules

by Newsdesk
Thu 28 Aug 2025 at 11:43

IAG EXPO, taking place at Newport World Resorts from 8 to 10 September, is not your usual trade show. IAG...

Test of character

Test of character

by Newsdesk
Thu 28 Aug 2025 at 11:28

Since its establishment in 1989, Gaming Laboratories International (GLI) has developed into the world’s most trusted name when it comes...

Evolution Asia
Evolution Asia
Aristocrat
GLI
Nustar
SABA
Mindslot
Solaire
Hann
Tecnet
NWR
NWR

Related Posts

Police arrest 100 people after detecting 62 cases of illegal money exchange in joint Macau operation

Police arrest 100 people after detecting 62 cases of illegal money exchange in joint Macau operation

by Pierce Chan
Mon 15 Sep 2025 at 22:58

Police from Macau, Guangdong and Hong Kong detected 62 cases of illegal money exchange and apprehended around 100 people suspected of being part of money exchange gangs as part of a month-long joint operation codenamed “Thunderstorm 2025”. Authorities said that...

Melco wins sustainability awards for “Above and Beyond” strategy

Melco proposes new notes offering, looking to redeem outstanding 2026 notes

by Newsdesk
Mon 15 Sep 2025 at 22:49

Melco Resorts Finance Limited, the Melco Resorts & Entertainment subsidiary that operates City of Dreams Macau, Altira Macau and Mocha Clubs, is proposing to conduct an international offering of senior notes as part of its plan to redeem all outstanding...

PAGCOR executive says technology advancements aiding rise in illegal online gaming operators

PAGCOR executive says technology advancements aiding rise in illegal online gaming operators

by Newsdesk
Mon 15 Sep 2025 at 22:25

The rapid advancement of technology within the gaming industry is driving a proliferation of illegal online operators by creating an unstable environment in which legitimate businesses can struggle, according to PAGCOR Vice President for Human Resource and Development Group, Dr...

Comtrade Gaming to expand reach of in-house studio CG Games via partnership with Interwetten

Comtrade Gaming to expand reach of in-house studio CG Games via partnership with Interwetten

by Newsdesk
Mon 15 Sep 2025 at 22:05

Comtrade Gaming, a leading provider of advanced gaming technology, has announced a new partnership with online gaming provider Interwetten through which CG Games – Comtrade Gaming’s in-house game studio – will be integrated into Interwetten’s casino offering. This, Comtrade said,...

Your browser does not support the video tag.


IAG

© 2005-2025
Inside Asian Gaming.
All rights reserved.

  • SUBSCRIBE FREE
  • NEWSFEED
  • MAG ARTICLES
  • VIDEO
  • OPINION
  • TAGS
  • REGIONAL
  • EVENTS
  • CONSULTING
  • CONTRIBUTORS
  • MAGAZINES
  • ABOUT
  • CONTACT
  • ADVERTISE
  • 中文
  • 日本語

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Add New Playlist

No Result
View All Result
  • 中文
  • 日本語
  • Subscribe
  • Newsfeed
  • Mag Articles
  • Video
  • Opinion
  • Tags
  • Regional
  • Events
  • Contributors
  • Magazines
  • Advertise
  • Contact
  • About
  • Home for G2E Asia

© 2005-2025
Inside Asian Gaming.
All rights reserved.

  • 中文
  • English
  • 日本語