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Studio City raises funds to power on-going Phase 2 construction


Studio City International Holdings, the company behind Melco’s Studio City integrated resort is raising funds via a combination of international offerings of senior secured notes as well as private placement offers, both of which will be used to partially fund the remaining project for Studio City and for general corporate purposes. 

Studio City is currently working on a $1.3 billion Phase 2 project, which is currently slated to open by the end of 2022. 

Macau, Studio City, Phase 2
Studio City, Phase 2

The design concept for Studio City Phase 2 features a modern interpretation of the Art Deco period, the company said. It will offer one of Asia’s largest indoor/outdoor water parks, a six-screen Cineplex as well as state-of-the-art MICE space.

In regards to the senior notes offering, Studio City said that the interest rate and other terms of the notes will be determined at the time of pricing of the offering. 

On the other hand, through its international private placement with existing institutional holders of its ordinary shares and American Depositary Shares (ADSs), Studio City said it expects to receive gross proceeds of approximately US$300 million. 

In another separate filing, Melco said that one of its subsidiaries, MCO Cotai Investments Limited has entered into a subscription agreement with Studio City International Holdings Limited to purchase approximately 220 million Class A ordinary shares of SCIHL for an aggregate purchase price of approximately US$165 million.

Felix Ng
Felix Nghttps://agbrief.com/about-asia-gaming-brief/
Felix is the Asia Editor and Events Director of the Asia Gaming Brief. He has over a decade of experience developing conferences for industries including gaming, telecoms, investment, biotechnology, and mining. Felix covers gaming technology and innovation and is passionate about developing engaging and eye-catching content for the industry.