Studio City to redeem 8½% notes due 2020 on March 13

By Wendy Van Sickle

Columbus, Ohio, Feb. 11 – Studio City International Holdings Ltd.’s Studio City Co. Ltd. subsidiary called its remaining $208,466,000 of outstanding 8½% senior notes due 2020 for redemption on March 13.

The redemption price will be par plus accrued interest plus any additional amounts, according to a notice.

The company held a tender offer for the notes that ended on Feb. 4, with tenders for $216,534,000 of the notes submitted under that offer for a purchase price of $1,003.50 for each $1,000 principal amount plus accrued interest.

Deutsche Bank Trust Co. Americas is the paying agent for the redemption.

Studio City is a 60% owned indirect subsidiary of Melco Crown Entertainment Ltd. and a 40% directly owned subsidiary of New Cotai LLC.

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