SJM Holdings’ recent senior notes issuance marks the first time a major tourism business in Macau has issued debt instruments on the Chongwa (Macao) Financial Asset Exchange Co., Ltd. (MOX).
The senior notes, which bear interest at 3.90% and have a final maturity in 2026, were sold to professional investors. The proceeds are being used to refund existing debt and for general corporate purposes of the SJM Group.
Mr. Benjamin Toh, Chief Financial Officer of SJMH, said “We are very pleased with the outcome of this financing, which was well received and enabled us to tap the market of local professional investors while raising funds at attractive terms.”
Ms. Daisy Ho, Chairman and Executive Director of SJMH commented “The success of our pioneering issue demonstrates that non-financial companies with operations in Macau can raise notes and bonds in the Macau market. We are very appreciative of the commitment that the Macau authorities have made to this new financial market, and we are pleased to support its role in the development of Macau’s modern financial system and the moderate diversification of the economy.”
