Loan & DebtMay 13, 2026, 06:02 AM
Studio City Tender Offer Sees US$196.4M in Senior Secured Notes Tendered
AI Summary
Studio City Company Limited announced the results of its conditional cash tender offer for its outstanding 7.00% senior secured notes due 2027. At the expiration time, US$196,421,000 aggregate principal amount of notes were validly tendered, with an additional US$1,500,000 under guaranteed delivery procedures. The company expects to accept all validly tendered notes, with a consideration of US$1,001.25 per US$1,000 principal amount, and anticipates a settlement date of May 15, 2026.
Key Highlights
- US$196,421,000 aggregate principal amount of 2027 SCC Senior Secured Notes were validly tendered.
- An additional US$1,500,000 principal amount of notes were subject to guaranteed delivery procedures.
- Consideration for each US$1,000 principal amount of tendered notes is US$1,001.25.
- The Conditional Tender Offer expired on May 12, 2026, at 5:00 p.m. New York City time.
- The settlement date for accepted notes is expected to be May 15, 2026.