SJM Holdings said it plans to raise funds through an issue of Hong Kong-dollar and Macau-pataca-denominated notes to refinance existing debt.

The company said the size of the note issue has not yet been determined. It added that the notes would extend the maturity profile of its debt and reduce secured indebtedness.

Macau is trying to boost its profile as a financial centre in an effort to diversify its economy away from gaming.

SJM company statement