Studio City Company Limited Announces Results of its Tender Offer for Any and All of its 7.00% senior secured notes due 2027
Studio City Company (MSC) announced results of its conditional cash tender offer for any and all of its 7.00% senior secured notes due 2027.
Rhea-AI Summary
Studio City Company (MSC) announced results of its conditional cash tender offer for any and all of its 7.00% senior secured notes due 2027.
Holders tendered US$196.421 million of notes by expiration, with an additional US$1.5 million via guaranteed delivery. Accepted notes will receive US$1,001.25 per US$1,000 principal, with settlement expected May 15, 2026, subject to conditions including financing.
Positive
- US$196.421 million aggregate principal of 2027 notes validly tendered by expiration
- Additional US$1.5 million of notes submitted under guaranteed delivery procedures
- Purchase price set at US$1,001.25 per US$1,000 principal amount
- Settlement for accepted notes expected on May 15, 2026, if conditions are satisfied
Negative
- Completion of the tender offer remains subject to a financing condition and other conditions
- Cash required to repurchase notes at a premium to principal may reduce available liquidity
Details
News Market Reaction – MSC
On May 13, the day this news came out, MSC closed 4.17% above the previous close.
Data tracked by StockTitan Argus for the May 13 session.
Key Figures
- Notes coupon
- 7.00%
- Senior secured notes due 2027
- Notes tendered
- US$196,421,000
- Aggregate principal validly tendered by Expiration Time
- Guaranteed delivery amount
- US$1,500,000
- Aggregate principal subject to guaranteed delivery procedures
- Tender consideration
- US$1,001.25
- Per US$1,000 principal amount of 2027 notes accepted
- Expiration Time
- 5:00 p.m. New York City time
- Tender offer expiration on May 12, 2026
- Guaranteed delivery deadline
- 5:00 p.m. New York City time
- Deadline on May 14, 2026 for guaranteed delivery notes
- Expected settlement date
- May 15, 2026
- Settlement of accepted 2027 notes in tender offer
Historical Context
-
Priced US$300M of 6.125% senior secured notes due 2031 at par.
-
Announced proposed senior secured notes to refinance 2027 notes.
-
Launched cash tender offer for all 7.00% senior secured 2027 notes.
-
Reported higher Q1 2026 revenues, EBITDA and a move to net income.
-
Filed 2025 Form 20-F with audited financial statements for investors.
24h Move is the share-price change in the day after each event; other market factors may also have contributed.
Key Terms
senior secured notes financial
tender offer financial
CUSIP financial
ISIN financial
guaranteed delivery procedures financial
AI-generated analysis. How Rhea-AI works. Not financial advice.
MACAU, May 13, 2026 (GLOBE NEWSWIRE) -- Studio City Company Limited (“Studio City Company”) today announces the results of its previously announced conditional cash tender offer for any and all of its outstanding
The Conditional Tender Offer expired at 5:00 p.m., New York City time, on May 12, 2026 (the “Expiration Time”). The deadline for delivery of Notes tendered pursuant to the guaranteed delivery procedures described in the Offer to Purchase is 5:00 p.m., New York City time, on May 14, 2026. At or prior to the Expiration Time, US
The consideration for each US
The Conditional Tender Offer was made solely pursuant to the Offer to Purchase, which sets forth the complete terms of the Conditional Tender Offer. Copies of the Offer to Purchase are available from the Tender and Information Agent at the following website: https://deals.is.kroll.com/studiocity. Studio City Company has engaged Deutsche Bank AG, Singapore Branch to act as the dealer manager for the Conditional Tender Offer. Questions regarding the terms of the Conditional Tender Offer should be directed to Deutsche Bank AG, Singapore Branch at One Raffles Quay, #17-00 South Tower, Singapore 048583, Attention: Global Risk Syndicate (Tel: +65 6423-4229), with a copy to Deutsche Bank AG, London Branch at 21 Moorfields, London EC2Y 9DB, United Kingdom, Attention: Liability Management Group (Tel: +44 20-7545-8011) and Deutsche Bank Securities Inc. at 1 Columbus Circle, New York, New York 10019, United States of America, Attention: Liability Management Group (Tel: +1 212-250-7527) with a copy at the same address to Attention of the General Counsel, 19th Floor at the email of dbcapmarkets.gcnotices@list.db.com. Studio City Company has appointed Kroll Issuer Services Limited to serve as the Tender and Information Agent for the Conditional Tender Offer. Questions regarding the Conditional Tender Offer or requests for additional copies of the Offer to Purchase should be directed to Kroll Issuer Services Limited, Attention: Kevin Wong / Alison Lee (Tel: +852 2281 0114 / +44 20 7704 0880, Email: studiocity@is.kroll.com).
This press release is not an offer to sell, a solicitation to buy or an offer to purchase or sell any securities. The Conditional Tender Offer was made solely by the Offer to Purchase.
The distribution of this announcement in certain jurisdictions may be restricted by law. Persons into whose possession this press release comes are required to inform themselves about, and to observe, any such restrictions.
This press release is for information purposes only and does not constitute an invitation or offer to acquire, purchase or subscribe for the securities referred to herein. Nothing in this press release constitutes an offer to buy, or a solicitation of an offer to sell, securities in the United States or any other jurisdiction in which such offer or solicitation would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.
Safe Harbor Statement
This press release contains forward-looking statements. Without limiting the generality of the foregoing, forward-looking statements contained in this press release specifically include statements regarding Studio City Company’s plans and expected timing with respect to the Conditional Tender Offer. Studio City International Holdings Limited may also make forward-looking statements in its periodic reports to the U.S. Securities and Exchange Commission, in its annual report to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Statements that are not historical facts, including statements about the Studio City Company’s beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties, and a number of factors could cause actual results to differ materially from those contained in any forward-looking statement. These factors include, but are not limited to, (i) changes in the gaming market and visitations in Macau, (ii) local and global economic conditions, (iii) capital and credit market volatility, (iv) our anticipated growth strategies, (v) risks associated with the implementation of the amended Macau gaming law by the Macau government, (vi) gaming authority and other governmental approvals and regulations, and (vii) our future business development, results of operations and financial condition. In some cases, forward-looking statements can be identified by words or phrases such as “may,” “will,” “expect,” “anticipate,” “target,” “aim,” “estimate,” “intend,” “plan,” “believe,” “potential,” “continue,” “is/are likely to” or other similar expressions. Further information regarding these and other risks, uncertainties or factors is included in the Offer to Purchase. All information provided in this press release is as of the date of this press release, and Studio City Company undertakes no duty to update such information, except as required under applicable law.
For the investment community, please contact:
Jeanny Kim
Senior Vice President, Group Treasurer
Tel: +852 2598 3698
Email: jeannykim@melco-resorts.com
For media enquiries, please contact:
Chimmy Leung
Executive Director, Corporate Communications
Tel: +852 3151 3765
Email: chimmyleung@melco-resorts.com
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.