China's Studio City talks $825 million eight-year senior notes with 8¼% area yield

By Paul A. Harris

Portland, Ore., Nov. 14 - China-based Melco Crown Entertainment subsidiary Studio City Co. Ltd. talked its $825 million offering of eight-year senior notes (B3/B-) with a yield in the 8¼% area, a syndicate source said on Wednesday.

The deal is set to price on Thursday.

Deutsche Bank, ANZ, Bank of America Merrill Lynch, Citigroup, Credit Agricole and UBS are the bookrunners for the Rule 144A and Regulation S deal.

The notes include a change-of-control put at 101% and are non-callable for three years.

The prospective issuer is a Hong Kong-based developer and owner of casino gaming and entertainment resort facilities focused on the Macau market.

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