Melco Resorts & Entertainment subsidiary Melco Resorts Finance Limited has priced its international offering of senior notes at US$500 million aggregate principal amount of 6.500% senior notes due 2033.
The proceeds will be used to redeem all outstanding 5.250% senior notes due 2026 and for general corporate purposes as the company looks to offset looming debt.
In a filing, Melco said the new notes would be senior obligations of Melco Resorts Finance, ranking equally with its existing and future senior indebtedness.
Ratings agency Moody’s recently outlined its expectation that Melco, which reported a 16.2% year-on-year rise in gaming revenues to US$1.1 billion in the three months to 30 June 2025, will reduce its operating leverage from around 6.7x as of 30 June 2025 to around 5.4x in 2026 due to a continued increase in its revenues and profits.
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