Loan & DebtMay 6, 2026, 09:21 AM
Studio City initiates conditional tender offer for 2027 notes at $1,001.25
AI Summary
Studio City Company Limited has launched a conditional cash tender offer for any and all of its outstanding 7.00% senior secured notes due 2027. The offer price is US$1,001.25 per US$1,000 principal amount, with an expiration date of May 12, 2026. The tender offer is contingent on the successful completion of a new notes offering to fund the purchase and redemption of any remaining notes. Concurrently, the company issued a conditional redemption notice for all outstanding 2027 notes at US$1,000 per US$1,000 principal amount, effective June 5, 2026, also subject to the same financing condition.
Key Highlights
- Studio City initiated a conditional cash tender offer for its 7.00% senior secured notes due 2027.
- The offer price is US$1,001.25 per US$1,000 principal amount of notes.
- The tender offer expires on May 12, 2026, at 5:00 p.m. New York City time.
- Settlement is expected on May 15, 2026, contingent on a financing condition.
- A conditional redemption notice was issued for all 2027 notes at US$1,000 per US$1,000 principal amount.
- The redemption date is June 5, 2026, also subject to the financing condition.
- The financing condition requires sufficient net proceeds from a new notes offering.