Melco Resorts to offer add-on of 4 7/8% notes due 2025

By Colin Hanner

Chicago, June 26 – Melco Resorts & Entertainment Ltd. will offer an add-on to its dollar-denominated 4 7/8% notes due 2025, the company said in a news release.

Proceeds of the Rule 144A and Regulation S notes will be used to repay $350 million from the revolving credit facility of its subsidiary Melco Crown (Macau) Ltd.

The add-on will have the same terms and conditions, other than issue date and price, as Melco’s $650 million issue of eight-year senior notes (Ba3/BB-), which priced at par to yield 4 7/8% in May, according to Prospect News.

Melco is a Hong Kong-based developer of casinos in Macau and the Philippines.

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