Studio City Subsidiary Prices $300M Senior Secured Notes at Lower Rate, Extends Maturity

summarizeSummary

Studio City Company Limited, a subsidiary of Studio City International Holdings, has priced its $300 million senior secured notes offering at 6.125% due 2031, using proceeds to repurchase and redeem existing 7.00% notes due 2027.

check_boxKey Events

• Pricing of New Senior Secured Notes

  Studio City Company Limited priced an international offering of US$300 million aggregate principal amount of 6.125% senior secured notes due 2031 at 100% of par value.

• Refinancing of Existing Debt

  The net proceeds from the new notes offering, combined with cash on hand, will be used to repurchase and redeem all outstanding 7.00% senior secured notes due 2027.

• Improved Debt Terms

  This refinancing results in a lower interest rate (6.125% vs. 7.00%) and an extended maturity period (2031 vs. 2027), enhancing the company's financial position and reducing future interest expenses.

• Finalizes Prior Announcement

  This pricing finalizes the terms of the offering and conditional tender offer that was initially announced on May 6, 2026.

auto_awesomeAnalysis

This filing finalizes the terms of the previously announced debt offering, allowing Studio City Company Limited, a subsidiary of Studio City International Holdings, to refinance a significant portion of its outstanding debt. By issuing new notes at a lower interest rate (6.125% compared to 7.00%) and extending the maturity from 2027 to 2031, the company is improving its financial flexibility and reducing future interest expenses. This move strengthens the balance sheet by optimizing its debt structure.