MSC STUDIO CITY INTERNATIONAL HOLDINGS Ltd
Price Chart
Executive Summary
Studio City Company Limited, an indirect subsidiary of Studio City International Holdings, has fully redeemed and canceled all of its outstanding 7.000% senior secured notes due 2027. The redemption covered US$153,579,000 in aggregate principal, representing 43.9% of the original issuance, and was completed on June 5, 2026. This eliminates a major debt obligation, strengthening the subsidiary's balance sheet and removing refinancing risk for the notes.
Actionable Insight
The full redemption and cancellation of the 2027 senior secured notes is a material credit-positive event, removing a ~$154M debt tranche from the capital structure and eliminating its associated interest cost. Traders should watch for a potential positive re-rating of Studio City's credit profile, which could tighten credit spreads on its remaining debt. The cross-filing annual report context (20-F) provides operational and financial background, but the redemption itself is the primary catalyst.
Key Facts
- US$153,579,000 aggregate principal amount of 7.000% senior secured notes due 2027 redeemed and canceled
- Redemption represents approximately 43.9% of the aggregate principal amount at initial listing
- No notes remain outstanding after cancellation
- Redemption date: June 5, 2026
- Filing dated June 8, 2026
- Cross-filing context includes the 2024 annual report (20-F) filed 87 days prior
Financial Impact
Full extinguishment of US$153,579,000 in secured debt; annual interest savings of approximately US$10.75 million (at 7.000% coupon). Redemption eliminates ~43.9% of the original note principal. No cash outflow figure provided.
Risk Factors
- No information on the funding source for the redemption — if cash on hand was depleted rather than replaced with other debt, liquidity may be reduced
- The filing relates to a subsidiary issuer; the parent company's own leverage and cash position may not fully benefit
- Historical performance on MSC filings shows consistently negative T+20 outcomes regardless of sentiment, suggesting execution risk or broader sector headwinds
Market Snapshot
Documents Analyzed
This report is based on 5 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 6-K Filing (Primary) | 0001193125-26-260607 |
| Document: d125295dex991.htm | 0001193125-26-260607 |
| Document: 0001193125-26-260607-index-headers.html | 0001193125-26-260607 |
| Document: 0001193125-26-260607-index.html | 0001193125-26-260607 |
| Document: 0001193125-26-260607.txt | 0001193125-26-260607 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
|
Jun 8, 2026
1d ago
|
6-K
| $2.29 awaiting T+5 | awaiting T+5 | — | $2.34 (+2.18%) |
|
May 29, 2026
11d ago
|
6-K
| $2.39 $2.27 | ▼ −5.02% | ▼ −2.50% | $2.34 (−2.09%) |
|
May 15, 2026
25d ago
|
6-K
| $2.55 $2.33 | ▼ −8.63% | ▼ −10.25% | $2.34 (−8.24%) |
|
May 7, 2026
4w ago
|
6-K
| $2.70 $2.50 | ▼ −7.41% | ▼ −8.91% | $2.34 (−13.33%) |
|
May 6, 2026
4w ago
|
6-K
| $2.40 $2.40 | · 0.00% | ▼ −1.13% | $2.34 (−2.50%) |
|
May 6, 2026
4w ago
|
Press Release
| $2.40 $2.40 | · 0.00% | ▼ −1.13% | $2.34 (−2.50%) |
|
Apr 30, 2026
5w ago
|
Press Release
| $2.35 $2.40 | ▲ +2.13% | ▲ +0.40% | $2.34 (−0.43%) |
|
Apr 28, 2026
6w ago
|
6-K
| $2.52 $2.40 | ▼ −4.76% | ▼ −6.45% | $2.34 (−7.14%) |
|
Apr 28, 2026
6w ago
|
Press Release
| $2.52 $2.40 | ▼ −4.76% | ▼ −6.45% | $2.34 (−7.14%) |
|
Apr 24, 2026
6w ago
|
6-K
| $2.70 $2.35 | ▼ −12.96% | ▼ −13.87% | $2.34 (−13.33%) |
US Market Status
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