Studio City begins conditional tender offer for 4¼% notes due 2024

By Taylor Fox

New York, Jan. 4 – Studio City International Holdings Ltd. subsidiary Studio City Finance Ltd. initiated a conditional cash tender offer for any and all of its outstanding 4¼% senior notes due 2024 (Cusip: 86389QAB8, G85381AB0), according to a news release.

The tender offer consideration will be $1,039.20 per $1,000 of notes tendered.

Notes will be accepted in minimum denominations of $200,000 and integral multiples of $1,000 in excess thereof.

The offer will expire at 5 p.m. ET on Jan. 11.

Settlement is expected for Jan. 14.

Notes tendered may be withdrawn at any time at or before the earlier of the expiration time and, if the offer is extended, the 10th business day after the start of the offer.

Studio City intends to redeem any 2024 notes that remain outstanding after completion of the conditional tender offer.

The tender offer is conditioned on Studio City receiving proceeds from one or more debt financing transactions in an aggregate amount, together with cash on hand, sufficient to fund the tender offer and the subsequent redemption and to pay all related fees and expenses.

Deutsche Bank AG, Singapore Branch (+44 20 7545 8011) is the dealer manager.

Lucid Issuer Services Ltd. (+44 20 7704 0880, studiocity@lucid-is.com) is the tender and information agent.

The gaming and entertainment company is based in Macau.

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