Melco Resorts Finance Announces Pricing of 5.375% Senior Notes Offering
January 13 2021 - 4:30PM
Melco Resorts Finance Limited (“
Melco Resorts
Finance”) announces that it has priced its international
offering of 5.375% senior notes due 2029 (the “
Additional
Notes”). Melco Resorts Finance is a wholly-owned
subsidiary of Melco Resorts & Entertainment Limited
(“
Melco”).
The offering consists of US$250 million
aggregate principal amount of Additional Notes, priced at 103.25%
of the principal amount plus accrued interest from December 4, 2020
to, but not including, the issue date of the Additional Notes.
Melco Resorts Finance intends to use the net proceeds from the
offering, together with cash on hand if applicable, for repayment
of the principal amount drawn under the revolving credit facility
under the senior facilities agreement entered into by MCO Nominee
One Limited, a subsidiary of Melco Resorts Finance, on April 29,
2020, together with accrued interest and associated costs, and any
remaining balance for general corporate purposes.
The Additional Notes are proposed to be senior
obligations of Melco Resorts Finance, ranking equally with all of
Melco Resorts Finance’s existing and future senior indebtedness and
will constitute additional notes under the indenture, dated
December 4, 2019 pursuant to which Melco Resorts Finance issued
US$900 million aggregate principal amount of 5.375% Senior Notes
due 2029 (the “Original Notes”) on December 4,
2019. The Additional Notes will be consolidated and form a single
series with the Original Notes. Melco will not be a guarantor of
the Additional Notes.
The Additional Notes are being offered and sold
in the United States to qualified institutional buyers pursuant to
Rule 144A under the U.S. Securities Act of 1933, as amended (the
“Securities Act”), and outside of the United
States in reliance on Regulation S under the Securities Act. The
Additional Notes will not be registered under the Securities Act or
under the securities laws of any state or other jurisdiction and
may not be offered or sold in the United States absent registration
or an applicable exemption from the registration requirements of
the Securities Act and any applicable state laws. Melco Resorts
Finance does not intend to register any portion of the offering of
the proposed Additional Notes in the United States.
Nothing in this press release constitutes an
offer to buy, or a solicitation of an offer to sell, securities in
the United States or any other jurisdiction in which such offer or
solicitation would be unlawful. This press release is being issued
pursuant to and in accordance with Rule 135c under the Securities
Act.
Safe Harbor Statement
This press release contains forward-looking
statements. These statements are made under the “safe harbor”
provisions of the U.S. Private Securities Litigation Reform Act of
1995. Statements that are not historical facts, including
statements about the Melco Resorts Finance’s beliefs and
expectations, are forward-looking statements. Forward-looking
statements involve inherent risks and uncertainties, and a number
of factors could cause actual results to differ materially from
those contained in any forward-looking statement. These factors
include, but are not limited to, (i) the global pandemic of
COVID-19, caused by a novel strain of the coronavirus, and the
continued impact of its consequences on our business, or industry
and the global economy, (ii) growth of the gaming market and
visitations in Macau, (iii) capital and credit market volatility,
(iv) local and global economic conditions, (v) our anticipated
growth strategies, (vi) gaming authority and other governmental
approvals and regulations, and (vii) our future business
development, results of operations and financial condition. In some
cases, forward-looking statements can be identified by words or
phrases such as “may,” “will,” “expect,” “anticipate,” “target,”
“aim,” “estimate,” “intend,” “plan,” “believe,” “potential,”
“continue,” “is/are likely to” or other similar expressions. All
information provided in this press release is as of the date of
this press release, and Melco Resorts Finance undertakes no duty to
update such information, except as required under applicable
law.
For investment community, please
contact:Richard HuangDirector, Investor RelationsTel: +852
2598 3619Email: richardlshuang@melco-resorts.com
For media enquiries, please contact:Chimmy
LeungExecutive Director, Corporate Communications Tel: +852 3151
3765Email: chimmyleung@melco-resorts.com
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