Melco sweetens the pot on dollar bond

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By Morgan Davis
15 Jul 2020

Melco Resorts Finance was forced to pay a premium to secure orders for its $500m bond this week amid a wider underperformance of recent casino deals.

Casino and resort operator Studio City, which is 54% owned by Melco Resorts, sold a $1bn dual-tranche deal last week, split between a 2025 bond and a 2028 note. Studio City’s trade, paired with an equity transaction, will redeem the company’s 2021 bonds, lengthening the borrower’s maturity ...

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