Macau: SJM raises US$160m from new senior notes

SJM plans to open Grand Lisboa Palace in June.
SJM plans to open Grand Lisboa Palace in June.

SJM Holdings has announced it has raised nearly HK$1.24bn (US$160m) and MOP298m (US$12.3m) after the issuance of senior notes due 2026.

Macau.- SJM Holdings Ltd has announced the closing of the issuance of new senior notes aimed to raise funds.

SJM Holdings stated that net proceeds from the offering of the senior notes reach nearly HK$1.24bn (US$160m) and MOP298m (US$12.3m). 

The company had announced it would use approximately 90 per cent of the net proceeds from the proposed offering for refinancing syndicated credit facilities.

SJM Holdings recently reported a net loss of nearly HK$647m (US$83.3m) for the first quarter of the year 2021, and revenue of HK$485m (US$62.4m) from the VIP sector, down 59.4 per cent.

The company is close to announcing the official launch of the new Grand Lisboa Palace, which it hopes to open by June 2021.

The US$5bn venue will include up to 700 gaming tables and 1,200 electronic gaming machines.

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