Shearman & Sterling has advised Studio City Finance on its Rule 144A/Regulation S high yield bond offering of senior notes guaranteed by its subsidiaries. Deutsche Bank AG, Singapore Branch, Australia and New Zealand Banking Group Limited, BOCI Asia Limited, Citigroup Global Markets Inc., Crédit Agricole Corporate and Investment Bank, Merrill Lynch International and UBS AG, Hong Kong Branch were the joint bookrunners on the offering.
Studio City Finance Limited is a subsidiary of Melco Crown Entertainment, a developer and owner of casino gaming and entertainment resort facilities focused on the Macau market.
This is a significant deal as it was part of a greenfield project financing that Studio City Finance is raising in order to develop and construct a large integrated entertainment, retail and gaming resort in Macau.
The following Shearman & Sterling team advised the issuer in the transaction: partners Kyungwon Lee (Hong Kong-Capital Markets), Lorna Chen (Hong Kong-Investment Funds), Laurence Crouch (Palo Alto-Tax), and Steven Sherman (New York-Finance); counsel Hae-Ran Song (Hong Kong-Capital Markets), Arnold Pang (Hong Kong-Capital Markets), Eileen O’Pray (Palo Alto-Tax), and Barbara Edwards (New York-Finance); and associates Minsoo Kwon (Hong Kong-Capital Markets), Kasey Choi (Hong Kong-Investment Funds) and Vanina de Verneuil (Beijing-Capital Markets).
