By Colin Hanner
Chicago, June 27 – Melco Resorts & Entertainment Ltd. priced a $350 million add-on of its 4 7/8% senior notes due 2025 at 100¾, the company said in a news release.
The add-on, issued by Melco Resorts Finance Ltd., will carry the same terms and conditions as Melco’s $650 million issue of eight-year senior notes (Ba3/BB-), which priced at par to yield 4 7/8% in May, according to Prospect News.
The total amount of the notes is now $1 billion.
Proceeds of the Rule 144A and Regulation S notes will be used to repay $350 million from the revolving credit facility of its subsidiary Melco Crown (Macau) Ltd.
Melco is a Hong Kong-based developer of casinos in Macau and the Philippines.
Issuer: | Melco Resorts Finance Ltd.
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Securities: | Senior notes
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Amount: | $350 million add on
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Maturity: | 2025
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Coupon: | 4 7/8%
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Price: | 100¾
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Trade date: | June 27
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Settlement date: | June 6
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Distribution: | Rule 144A and Regulation S
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Original issue: | $650 million priced at par on May 25
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