{"id":27110,"date":"2022-02-09T09:49:57","date_gmt":"2022-02-09T12:49:57","guid":{"rendered":"https:\/\/focusgn.com\/asia-pacific\/?p=27110"},"modified":"2026-04-23T11:28:58","modified_gmt":"2026-04-23T14:28:58","slug":"studio-city-to-offer-senior-secured-notes","status":"publish","type":"post","link":"https:\/\/focusgn.com\/asia-pacific\/studio-city-to-offer-senior-secured-notes","title":{"rendered":"Studio City to offer senior secured notes"},"content":{"rendered":"\n

The net proceeds from the offering will be used to partially fund capital expenditures for the remaining Studio City project and for general purposes.<\/p>\n\n\n\n\n\n\n\n

Macau.- Studio City International Holdings <\/strong>has announced it will conduct an international offering of senior secured notes. According to the company, the notes will be\u00a0senior obligations<\/strong>. The interest rate and other terms of the notes will be determined at the time of pricing the offering.<\/p>\n\n\n\n

The company expects to use net proceeds to fund the capital cost of Studio City\u2019s Phase II development<\/a>.<\/p>\n\n\n\n

Studio City also announced\u00a0it has entered into subscription agreements for a US$300m private offering\u00a0<\/strong>priced at a price of US$0.75 per share. It said existing shareholders collectively holding more than 99 per cent of the outstanding shares have subscribed for the offering.<\/p>\n\n\n\n

Melco Resorts Entertainment has committed to buy more than 220 million shares for US$165.1m. The share purchase will be completed through MCO Cotai Investments Ltd., a subsidiary of Melco Resorts which holds approximately 54.7 per cent of the Class A shares of Studio City International’s issued shares.<\/p>\n\n\n\n

MCO Cotai Investments <\/strong>is expected to hold approximately 54.9 per cent of Studio City’s promoters upon completion of the private placement.<\/p>\n\n\n\n

As part of the private placement, New Cotai LLC will purchase approximately 93.8 million shares of Studio City International <\/strong>for an aggregate price of US$70.4m; Silver Point Capital LP has agreed to acquire just over 55.7 million shares of Studio City International for US$48.8m.<\/p>\n\n\n\n

Upon completion of the transaction, New Cotai’s stake in Studio City will increase from 23.3 per cent to 23.4 per cent while Silver Point’s stake will remain at 13.9 per cent.<\/p>\n\n\n\n

See also: <\/strong>Studio City may transfer ownership of casino due to Macau legal changes<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

The net proceeds from the offering will be used to partially fund capital expenditures for the remaining Studio City project and for general purposes.<\/p>\n","protected":false},"author":176,"featured_media":16275,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"is_press_release":false,"is_interview":false,"is_opinion":false,"focusai_summary":"Studio City International Holdings is undertaking an international offering of senior secured notes and a US$300m private share placement to fund its Phase II development in Macau. Melco Resorts Entertainment, through MCO Cotai Investments, and New Cotai LLC are increasing their stakes, while Silver Point Capital LP also participates, solidifying the capital structure for the integrated resort expansion.","focusai_entities":"Studio City International Holdings, Melco Resorts Entertainment, MCO Cotai Investments Ltd., New Cotai LLC, Silver Point Capital LP","focusai_location":"Macau","focusai_target_profile":"ceo_executive (0.9), regulator (0.7), compliance_legal (0.7), operator_casino (0.9), investor_analyst (1.0), supplier_vendor (0.7), journalist_researcher (0.9)","focusai_suggestions":[{"label":"Impact on Melco's Strategy?","query":"How will Melco Resorts Entertainment's increased stake in Studio City, coupled with the new financing, influence its broader strategic objectives and capital allocation across its Macau portfolio?"},{"label":"Regulatory Implications?","query":"Given the mention of potential Macau legal changes, what are the specific regulatory risks or opportunities associated with Studio City's current ownership structure and financing activities?"}],"footnotes":""},"categories":[16338,163],"tags":[22113],"class_list":["post-27110","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-east-asia-news","category-finance-news","tag-studio-city"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/27110","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/users\/176"}],"replies":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/comments?post=27110"}],"version-history":[{"count":3,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/27110\/revisions"}],"predecessor-version":[{"id":27129,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/27110\/revisions\/27129"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/16275"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=27110"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=27110"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=27110"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}