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Hong Kong’s Melco issues call for 5% notes due 2021 at price of 102.5
By Susanna Moon
Chicago, May 15 – Melco Resorts & Entertainment Ltd. subsidiary Melco Resorts Finance Ltd., formerly known as MCE Finance Ltd., has issued a contingent redemption notice for its 5% senior notes due 2021.
Melco plans to redeem its 5% senior notes due 2021 at a price of 102.5% of par on June 14 using proceeds of a new issue, according to a 6-K filing with the Securities and Exchange Commission.
The redemption is contingent on Melco obtaining enough fund to redeem the notes by the redemption date.
If the condition is not met or waived by July 13, the notes will not be redeemed.
Melco Crown Entertainment Ltd. said on July 25, 2016 that subsidiary MCE Finance had obtained the needed consents to amend the notes related to a change of control.
Crown Resorts Ltd., formerly known as Crown Ltd., a major shareholder of Melco Crown Entertainment, planned to spin off some of its non-Australian assets into a separately listed holding company.
Melco Resorts, formerly Melco Crown Entertainment Ltd., is a Hong Kong-based owner and developer of casino gaming and entertainment resort facilities.
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