Studio City International Holdings Limited has announced the listing of US$1.1 billion of senior notes on the Chongwa (Macao) Financial Asset Exchange by its subsidiary, Studio City Finance Ltd.
The listing relates to US$750 million of 5.00% senior notes due 2029 issued in January and another US$350 million additional notes issued in May, the proceeds of which are being partially used to fund development of Studio City Phase II.
It also follows the listing by parent company Melco Resorts of US$1.15 billion of 5.375% senior notes due 2029 on the MOX in late June. Melco Resorts holds a 54.7% stake in Studio City, which operates the Macau integrated resort of the same name.
With the listing of both the Melco and the Studio City notes, Melco said the aggregate amount of notes listed by the group will be the largest in Macau for any non-financial institution at a combined US$2.25 billion.
“The listings showcase Melco’s support for the local financial trading platform and further demonstrate Melco’s confidence in the city’s further development as a world-recognized financial hub and tourism center,” the company said.
Two other Macau concessionaires have also listed on the MOX. SJM Holdings announced in early May that it was issuing senior notes worth almost US$200 million to be listed on the MOX, while MGM China also completed a dual listing of US$750 million 4.75% Senior Notes due 2027 on MOX and the Hong Kong Stock Exchange.
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