MACAU, Jan. 04, 2021 (GLOBE NEWSWIRE) — Studio Metropolis Finance Restricted (“Studio Metropolis Finance”) right this moment declares that it proposes to conduct a world providing of senior notes (the “New Notes” and such providing, the “Notes Providing”). Studio Metropolis Finance is a wholly-owned subsidiary of Studio Metropolis Worldwide Holdings Restricted (“SCIHL”).
The New Notes are proposed to be normal obligations of Studio Metropolis Finance, rating equally with all of Studio Metropolis Finance’s present and future senior indebtedness. The New Notes are proposed to be assured by all of Studio Metropolis Finance’s present restricted subsidiaries on a senior foundation (the “Notice Ensures”). SCIHL is not going to be a guarantor of the New Notes.
The rate of interest and different phrases of the New Notes will probably be decided on the time of pricing of the Notes Providing. Completion of the proposed Notes Providing of the New Notes is topic to market circumstances and investor curiosity. As no binding settlement in relation to the proposed Notes Providing of the New Notes has been entered into as on the date of this press launch, the proposed New Notes could or is probably not issued.
Studio Metropolis Finance right this moment additionally declares that it has initiated a conditional money tender supply for any and all of its excellent 7.250% senior notes due 2024 (CUSIP Numbers 86389QAB8 and G85381AB0; ISIN US86389QAB86 and USG85381AB09) (the “2024 Notes” and such conditional tender supply, the “Conditional Tender Provide”). The Conditional Tender Provide is conditional upon, amongst different issues, the receipt by Studio Metropolis Finance of internet proceeds from the profitable completion of a number of debt financing transactions (together with the Notes Providing) in an mixture quantity, along with money readily available, being enough to fund the Conditional Tender Provide and the redemption of any 2024 Notes which stay excellent following the completion of the Conditional Tender Provide and to pay all charges and bills related to the foregoing (the “Financing Situation”). The Conditional Tender Provide will expire at 5:00 p.m., New York Metropolis time, on January 11, 2021, except prolonged or terminated by Studio Metropolis Finance (the “Expiration Time”). The settlement of the Conditional Tender Provide (the “Tender Provide Settlement Date”) is predicted to happen, topic to the satisfaction or waiver of the Financing Situation, on January 14, 2021. Studio Metropolis Finance has reserved the appropriate to increase, amend or terminate the Conditional Tender Provide at any time in its sole discretion. The Conditional Tender Provide is being made pursuant to an Provide to Buy dated January 4, 2021 (the “Provide to Buy”) and the associated Discover of Assured Supply.
The consideration for every US$1,000 principal quantity of the 2024 Notes will probably be US$1,039.20 (the “Provide Consideration”). Notes will probably be accepted solely in minimal denominations of US$200,000 and integral multiples of US$1,000 in extra thereof. Topic to the phrases and circumstances within the Provide to Buy, Studio Metropolis Finance can pay the Provide Consideration to holders who validly tender their 2024 Notes (and don’t validly withdraw their 2024 Notes) by the Expiration Time, if such 2024 Notes are accepted for buy (the date of such fee, the “Fee Date”). 2024 Notes tendered could also be withdrawn at any time at or earlier than the sooner of (i) the Expiration Time and (ii) if the Conditional Tender Provide is prolonged, the tenth enterprise day after graduation of the Conditional Tender Provide. Notes may be validly withdrawn at any time after the sixtieth enterprise day after graduation of the Conditional Tender Provide if for any cause the Conditional Tender Provide has not been consummated inside 60 enterprise days after graduation of the Conditional Tender Provide.
Studio Metropolis Finance presently intends to ship a discover of redemption to redeem any 2024 Notes excellent following the consummation of the Conditional Tender Provide that aren’t bought pursuant to the Conditional Tender Provide. Studio Metropolis Finance isn’t obligated to redeem any 2024 Notes that aren’t tendered and accepted within the Conditional Tender Provide, and there might be no assurance it should accomplish that. Statements of intent on this press launch shall not represent a discover of redemption below the indenture governing the 2024 Notes. Any such discover, if made, will solely be made in accordance with the provisions of the indenture governing the 2024 Notes.
The Conditional Tender Provide is being made solely pursuant to the Provide to Buy and the associated Discover of Assured Supply, which set forth the entire phrases of the Conditional Tender Provide. Copies of the Provide to Buy and Discover of Assured Supply can be found from the Tender and Info Agent on the following web site: www.lucid-is.com/studiocity. Studio Metropolis Finance has engaged Deutsche Financial institution AG, Singapore Department to behave as the only real supplier supervisor for the Conditional Tender Provide. Questions relating to the Conditional Tender Provide or requests for extra copies of the Provide to Buy and the Discover of Assured Supply needs to be directed to Lucid Issuer Providers Restricted, Consideration: Mu-Yen Lo and Thomas Choquet (Tel: +44 20 7704 0880, E mail: studiocity@lucid-is.com) or Deutsche Financial institution AG, Singapore Department at One Raffles Quay, #17-00 South Tower, Singapore 048583, Consideration: World Threat Syndicate (Tel: +65 6423-5342, Fax: +65 6883-1769), with a duplicate to Deutsche Financial institution AG, London Department at Winchester Home, 1 Nice Winchester Avenue, London EC2N 2DB, United Kingdom, Consideration: Legal responsibility Administration Group (Tel: +44 (0)20 7545 8011).
The online proceeds from the Notes Providing will probably be used, along with money readily available if relevant, to fund the money consideration below the Conditional Tender Provide, redeem in full any 2024 Notes which stay excellent following the completion of the Conditional Tender Provide, pay all charges and prices associated to the proposed Notes Providing and the Conditional Tender Provide and if any quantity stays, to partially fund the capital expenditures of the remaining undertaking for Studio Metropolis and for normal company functions.
The New Notes and the Notice Ensures are being proposed to be provided and bought in america to certified institutional patrons pursuant to Rule 144A below the U.S. Securities Act of 1933, as amended (the “Securities Act”), and outdoors of america in reliance on Regulation S below the Securities Act. The proposed New Notes and the Notice Ensures haven’t been and won’t be registered below the Securities Act or below the securities legal guidelines of any state or different jurisdiction and is probably not provided or bought in america absent registration or an relevant exemption from the registration necessities of the Securities Act and any relevant state legal guidelines. Studio Metropolis Finance doesn’t intend to register any portion of the providing of the proposed New Notes and the Notice Ensures in america.
This press launch isn’t a solicitation of tenders with respect to any 2024 Notes. The Conditional Tender Provide is being made solely by the Provide to Buy and the associated Discover of Assured Supply. None of Studio Metropolis Finance, its board of administrators, the trustee, the supplier supervisor or the tender and knowledge agent make any suggestions as as to whether holders ought to tender their 2024 Notes pursuant to the Conditional Tender Provide, and nobody has been approved by any of them to make such suggestions. Holders should make their very own choices as as to whether to tender their 2024 Notes, and, in that case, the principal quantity of 2024 Notes to tender.
The distribution of this announcement in sure jurisdictions could also be restricted by regulation. Individuals into whose possession this press launch comes are required to tell themselves about, and to watch, any such restrictions.
This press launch is for data functions solely and doesn’t represent an invite or supply to amass, buy or subscribe for the securities referred to herein. Nothing on this press launch constitutes a suggestion to purchase, or a solicitation of a suggestion to promote, securities in america or another jurisdiction by which such supply or solicitation can be illegal previous to registration or qualification below the securities legal guidelines of any such jurisdiction. This press contains data that’s issued pursuant to and in accordance with Rule 135c below the Securities Act.
Secure Harbor Assertion
This press launch comprises forward-looking statements. These statements are made below the “protected harbor” provisions of the U.S. Personal Securities Litigation Reform Act of 1995. Statements that aren’t historic info, together with statements about Studio Metropolis Finance’s beliefs and expectations, are forward-looking statements. Ahead-looking statements contain inherent dangers and uncertainties, and plenty of elements may trigger precise outcomes to vary materially from these contained in any forward-looking assertion. These elements embody, however should not restricted to, (i) the worldwide pandemic of COVID-19, brought on by a novel pressure of the coronavirus, and the continued influence of its penalties on our enterprise, our business and the worldwide economic system, (ii) development of the gaming market and visitations in Macau, (iii) capital and credit score market volatility, (iv) native and international financial circumstances, (v) our anticipated development methods, (vi) gaming authority and different governmental approvals and rules, and (vii) our future enterprise improvement, outcomes of operations and monetary situation. In some circumstances, forward-looking statements might be recognized by phrases or phrases comparable to “could”, “will”, “anticipate”, “anticipate”, “goal”, “goal”, “estimate”, “intend”, “plan”, “consider”, “potential”, “proceed”, “is/are more likely to” or different comparable expressions. Any forward-looking statements made within the New Notes providing paperwork or Provide to Buy converse solely as of the date thereof and all data offered on this press launch is as of the date of this press launch, and Studio Metropolis Finance doesn’t undertake any responsibility to replace such data, besides as required below relevant regulation.
For funding neighborhood, please contact:
Richard Huang
Director, Investor Relations
Tel: +852 2598 3619
E mail: richardlshuang@melco-resorts.com
For media enquiries, please contact:
Chimmy Leung
Govt Director, Company Communications
Tel: +852 3151 3765
E mail: chimmyleung@melco-resorts.com
