MSC STUDIO CITY INTERNATIONAL HOLDINGS Ltd
Price Chart
Executive Summary
Studio City International Holdings, via its subsidiary Studio City Company, announced a conditional tender offer for its 7.00% senior secured notes due 2027, alongside a proposed offering of new senior secured notes to fund the repurchase. The tender offer is at $1,001.25 per $1,000 principal and expires May 12. This liability management transaction reduces near-term refinancing risk if completed.
Actionable Insight
Monitor the success of the notes offering and tender offer. If completed, it reduces near-term refinancing risk and may improve credit profile. Failure could increase perceived risk. Watch for pricing terms of the new notes for interest cost signal.
Key Facts
- Conditional tender offer for all outstanding 7.00% senior secured notes due 2027 at $1,001.25 per $1,000 principal.
- Tender offer expires May 12, 2026; settlement expected May 15, 2026, subject to financing condition.
- Concurrent proposed offering of new senior secured notes to fund repurchase; interest rate and terms TBD.
- Conditional redemption notice issued for any notes not tendered, at $1,000 per $1,000 principal plus accrued interest.
- Existing $30 million senior secured credit facilities have priority over new notes on common collateral.
- Neither Melco Resorts & Entertainment Limited nor SCIHL will guarantee the new notes.
Financial Impact
None; debt refinancing with no impact on revenue or earnings. Tender consideration premium of $1.25 per $1,000 over par.
Risk Factors
- Notes offering may not be completed due to market conditions, leaving refinancing incomplete.
- New notes may carry higher interest rate than the 7.00% being redeemed, increasing interest expense.
- Conditional nature means tender offer could lapse, leading to uncertainty.
Market Snapshot
Documents Analyzed
This report is based on 6 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 6-K Filing (Primary) | 0001193125-26-207872 |
| Document: d138584d6k.htm | 0001193125-26-207872 |
| Document: d138584dex991.htm | 0001193125-26-207872 |
| Document: 0001193125-26-207872-index-headers.html | 0001193125-26-207872 |
| Document: 0001193125-26-207872-index.html | 0001193125-26-207872 |
| Document: 0001193125-26-207872.txt | 0001193125-26-207872 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
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Jun 8, 2026
1d ago
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6-K
| $2.29 awaiting T+5 | awaiting T+5 | — | $2.18 (−4.80%) |
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May 29, 2026
11d ago
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6-K
| $2.39 $2.27 | ▼ −5.02% | ▼ −2.50% | $2.18 (−8.79%) |
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May 15, 2026
25d ago
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6-K
| $2.55 $2.33 | ▼ −8.63% | ▼ −10.25% | $2.18 (−14.51%) |
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May 7, 2026
4w ago
|
6-K
| $2.70 $2.50 | ▼ −7.41% | ▼ −8.91% | $2.18 (−19.26%) |
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May 6, 2026
4w ago
|
6-K
| $2.40 $2.40 | · 0.00% | ▼ −1.13% | $2.18 (−9.17%) |
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May 6, 2026
4w ago
|
Press Release
| $2.40 $2.40 | · 0.00% | ▼ −1.13% | $2.18 (−9.17%) |
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Apr 30, 2026
5w ago
|
Press Release
| $2.35 $2.40 | ▲ +2.13% | ▲ +0.40% | $2.18 (−7.23%) |
|
Apr 28, 2026
6w ago
|
6-K
| $2.52 $2.40 | ▼ −4.76% | ▼ −6.45% | $2.18 (−13.49%) |
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Apr 28, 2026
6w ago
|
Press Release
| $2.52 $2.40 | ▼ −4.76% | ▼ −6.45% | $2.18 (−13.49%) |
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Apr 24, 2026
6w ago
|
6-K
| $2.70 $2.35 | ▼ −12.96% | ▼ −13.87% | $2.18 (−19.26%) |
US Market Status
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