Studio City hits jackpot with bond demand

The Macau casino operator withstands a period of sharp volatility in the global bond markets to sell a $1.2 billion bond.

Macau casino Studio City returned to international bond markets in style on Thursday, selling the largest Asian high yield corporate bond this year.

The company sold a $350 million three-year bond and an $850 million five year non-call two year bond. Between them, these two tranches got around $2.5 billion of demand.

The deal ticked a number of boxes for those bankers looking for a win as the year ends with a whimper. For one thing, bankers extolled the geographical split of the demand. Asian notes were a bare majority for the callable bond and took just 35% of the three-year deal.

The scale...

¬ Haymarket Media Limited. All rights reserved.

FinanceAsia has updated its subscription model.

Registered readers now have the opportunity to read 5 articles from our award-winning website for free.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team (2-10 users), or office-wide licences.

To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222

Article limit is reached.

Hello! You have used up all of your free articles on FinanceAsia.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team (2-10 users), or office-wide licences. To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222