By Paul A. Harris
Portland, Ore., April 17 – Macau-based Melco Resorts & Entertainment Ltd. priced a $500 million issue of senior notes due 2026 (Ba2/BB) at par to yield 5¼% on Wednesday, according to market sources.
The yield printed at the tight end of the 5¼% to 5½% price talk.
Deutsche Bank and ANZ were the joint bookrunners.
The owner and operator of gaming and resort properties plans to use the proceeds to pay down its revolving credit facility under the Melco Resorts (Macau) Ltd. amended and restated credit agreement.
| Issuer: | Melco Resorts Finance Ltd.
|
| Amount: | $500 million
|
| Maturity: | 2026
|
| Securities: | Senior notes
|
| Bookrunners: | Deutsche Bank and ANZ
|
| Coupon: | 5¼%
|
| Price: | Par
|
| Yield: | 5¼%
|
| Call protection: | Three years
|
| Trade date: | April 17
|
| Ratings: | Moody's: Ba2
|
| S&P: BB
|
| Distribution: | Rule 144A and Regulation S
|
| Price talk: | 5¼% to 5½%
|
| Marketing: | Roadshow
|
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