{"id":777036792,"date":"2026-01-14T12:10:32","date_gmt":"2026-01-14T15:10:32","guid":{"rendered":"https:\/\/focusgn.com\/asia-pacific\/?p=777036792"},"modified":"2026-04-21T15:25:04","modified_gmt":"2026-04-21T18:25:04","slug":"sjm-holdings-completes-170-1m-tender-offer-to-reduce-2026-notes-principal","status":"publish","type":"post","link":"https:\/\/focusgn.com\/asia-pacific\/sjm-holdings-completes-170-1m-tender-offer-to-reduce-2026-notes-principal","title":{"rendered":"SJM Holdings completes US$170.1m tender offer to reduce 2026 notes principal"},"content":{"rendered":"\n

The company said that once the repurchased notes are cancelled, the remaining principal amount of the 2026 bonds in circulation will stand at US$329.9m.<\/p>\n\n\n\n\n\n\n\n

Macau.- SJM Holdings<\/strong> reported that it has finalised a cash tender offer to buy back US$170.1m of its 4.5 per cent senior notes due 2026, a move that reduces its outstanding principal ahead of maturity.<\/p>\n\n\n\n

The offer closed at 4pm London time on January 12, after US$170m in aggregate principal amount of the 2026 notes had been validly tendered, with the issuer, Champion Path Holdings, confirming that it will accept all notes submitted under the offer.<\/p>\n\n\n\n

SJM Holdings said that once the repurchased notes are cancelled, the remaining principal amount of the 2026 bonds in circulation will stand at US$329.9m. Payment for the accepted notes, together with accrued interest of $21.125 per $1,000 of principal, is expected to be made on or about January 16.<\/p>\n\n\n\n

In a prior filing, the company said it plans to finance the tender offer using proceeds from a concurrent new notes issuance, supplemented by internal cash, as part of its broader debt refinancing strategy.<\/p>\n\n\n\n

The move also aligns with SJM\u2019s plan to strengthen its balance sheet following the closure and restructuring of its satellite casinos<\/a>. The company has recently come under scrutiny from rating agencies, including Fitch Ratings<\/strong>, which cautioned that there was \u201cheightened uncertainty around SJM\u2019s deleveraging trajectory\u201d and assigned a \u2018BB-\u2019 rating to the group\u2019s proposed senior unsecured notes.<\/p>\n\n\n

\n\t\t\tSee also:<\/span><\/p>\n
\n\t\t\t\t\"\"<\/p>\n

\n\t\t\t\t\tSee also:<\/span> Macau operator SJM to issue $540m senior unsecured notes<\/a>\n\t\t\t\t<\/p>\n<\/p><\/div>\n<\/p><\/div>","protected":false},"excerpt":{"rendered":"

The company said that once the repurchased notes are cancelled, the remaining principal amount of the 2026 bonds in circulation will stand at US$329.9m.<\/p>\n","protected":false},"author":2395,"featured_media":18429,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"is_press_release":false,"is_interview":false,"is_opinion":false,"focusai_summary":"SJM Holdings has finalized a cash tender offer to repurchase US$170.1m of its 2026 senior notes, reducing the outstanding principal to US$329.9m. This strategic debt refinancing, funded by a concurrent new notes issuance and internal cash, aims to strengthen the company's balance sheet and address concerns from rating agencies like Fitch Ratings regarding its deleveraging trajectory.","focusai_entities":"SJM Holdings, Champion Path Holdings, Fitch Ratings","focusai_location":"Macau, London","focusai_target_profile":"ceo_executive (0.9), operator_casino (0.8), investor_analyst (1.0), supplier_vendor (0.7), journalist_researcher (0.9)","focusai_suggestions":[{"label":"New Notes Impact","query":"What are the specific terms and coupon rates of the concurrent new notes issuance, and how do they compare to the repurchased 2026 bonds in terms of cost of capital and maturity profile?"},{"label":"Deleveraging Trajectory","query":"How does this specific debt refinancing transaction alter Fitch Ratings' assessment of SJM's deleveraging trajectory and its 'BB-' rating for the proposed senior unsecured notes?"}],"footnotes":""},"categories":[16338,163],"tags":[23108],"class_list":["post-777036792","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-east-asia-news","category-finance-news","tag-sjm-holdings"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777036792","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\/2395"}],"replies":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/comments?post=777036792"}],"version-history":[{"count":3,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777036792\/revisions"}],"predecessor-version":[{"id":777036802,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777036792\/revisions\/777036802"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/18429"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=777036792"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=777036792"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=777036792"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}