Just three weeks after announcing plans to raise US$500 million from a private notes offering, Melco Resorts & Entertainment subsidiary Melco Resorts Finance Limited has outlined an additional US$350 million notes offering on identical terms to the first.
The additional offering will consist of US$350 million aggregate principal amount of 5.750% senior notes due 2028, and be consolidated to form a single series with the original US$500 million notes dated 21 July 2020.
Melco said the net proceeds will be used for general corporate purposes of Melco Resorts Finance Limited, the entity that operates Macau integrated resorts City of Dreams and Altira Macau.
Another Melco Resorts subsidiary, Studio City International Holdings Ltd, last week completed its own US$500 million fund raising initiative via a series of private placements of which Melco subscribed to US$280.8 million Class A Shares via its wholly-owned MCO Cotai.
Melco Resorts Finance Ltd revealed last month that its daily operating costs at City of Dreams and Altira equaled around US$1.5 million per day in 2Q20.
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