The issuance will extend the maturity profile of the group’s debt.
Macau.- SJM Holdings Ltd is preparing to issue US$540m in senior unsecured notes with a coupon rate of 6.5 per cent per annum and a maturity date of 2031. The company made the announcement in a filing today.
SJM Holdings intends to list the US-dollar denominated notes on the Hong Kong Stock Exchange. The issuance will occur on Thursday, January 15, and holders of the notes will receive twice yearly interest payments on January 15 and July 15.
Controlling shareholder Sociedade de Turismo e Diversões de Macau SA (STDM) will subscribe to a portion of the new notes through a subsidiary. The terms of the notes were negotiated independently and aren’t backed by group assets.
The casino operator is simultaneously buying back its outstanding 4.500 per cent senior notes (due January 27) using internal funding and proceeds from the new note issue.
The issuance will extend the maturity profile of the group’s debt. Macau.- SJM Holdings Ltd is preparing to issue US$540m in senior unsecured notes with a coupon rate of 6.5…
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