The chairman and CEO of Melco Resorts & Entertainment Limited, majority owner of Studio City, bought US$60 million of new senior notes.<\/p>\n\n\n\n\n\n\n\n
Macau.- Casino and resort chairman Lawrence Ho Yau Lung has acquired U$S60 million in senior notes issued by Studio City Finance on July 9.<\/p>\n\n\n\n
Laurence Ho is currently the Chairman and CEO of Melco Resorts & Entertainment Limited and Melco International Development Limited. Melco only operates, and is the majority owner of, the Studio City integrated resort being built in Cotai, Macau.<\/p>\n\n\n\n
GGR Asia reported that Mr. Ho acquired the notes on July 9 via two orders, one for US$10 million via entities he controls, and the second for US$50 million, by Mr Ho personally.<\/p>\n\n\n\n
Studio City Finance expected to raise US$1 billion through the senior notes issue to redeem the outstanding 7.250 per cent senior secured notes due in 2021, to pay fees and costs related to the offering and to fund the capital expenditure of the remaining expansion project for Studio City in Cotai.<\/p>\n\n\n\n
Melco has committed US$500 million<\/a><\/em><\/strong> to the project, which remains delayed<\/a><\/em><\/strong> due to the novel coronavirus outbreak.<\/p>\n","protected":false},"excerpt":{"rendered":" The chairman and CEO of Melco Resorts & Entertainment Limited, majority owner of Studio City, bought US$60 million of new senior notes.<\/p>\n","protected":false},"author":2,"featured_media":8221,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"is_press_release":false,"is_interview":false,"is_opinion":false,"focusai_summary":"Lawrence Ho, Chairman and CEO of Melco Resorts & Entertainment Limited, acquired US$60 million in senior notes issued by Studio City Finance. This personal investment supports Studio City's US$1 billion capital raise, intended for refinancing existing debt and funding the integrated resort's expansion in Cotai, Macau, which faces delays due to the novel coronavirus.","focusai_entities":"Lawrence Ho Yau Lung, Melco Resorts & Entertainment Limited, Studio City, Studio City Finance, Melco International Development Limited, GGR Asia","focusai_location":"Macau, Cotai","focusai_target_profile":"ceo_executive (0.9), regulator (0.7), compliance_legal (0.7), operator_casino (0.9), investor_analyst (1.0), supplier_vendor (0.8), journalist_researcher (0.9)","focusai_suggestions":[{"label":"Studio City Expansion Impact?","query":"What are the revised projected timelines and potential GGR uplift contributions for Studio City's Cotai expansion, considering the current financing structure and ongoing market conditions?"},{"label":"Melco Capital Strategy?","query":"How does Lawrence Ho's personal investment in Studio City Finance senior notes align with Melco Resorts & Entertainment's broader capital allocation strategy and debt management objectives?"}],"footnotes":""},"categories":[16338,163],"tags":[257,665,22113],"class_list":["post-8219","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-east-asia-news","category-finance-news","tag-macau","tag-melco","tag-studio-city"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/8219","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\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/comments?post=8219"}],"version-history":[{"count":2,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/8219\/revisions"}],"predecessor-version":[{"id":8250,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/8219\/revisions\/8250"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/8221"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=8219"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=8219"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=8219"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}