Studio City International Plans New Secured Notes to Refinance 2027 Debt
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Studio City International Holdings plans to issue senior secured notes to refinance its 2027 debt. The offering will rank equally with existing senior debt and be guaranteed by its subsidiaries. Proceeds will fund a tender offer for outstanding 7.00% notes due 2027 and redeem remaining notes. This move aims to optimize capital structure and lower funding costs for its Macau operations. Spark's analysis rates MSC stock as Neutral, citing high leverage and net losses, but notes improved cash generation and valuation support.
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