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DGAP-News: Melco Crown Entertainment Limited Announces Pricing of RMB-Denominated Bond Offering
ID: 396053
(firmenpresse) - Melco Crown Entertainment Limited
29.04.2011 15:38
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NEW YORK, 2011-04-29 15:38 CEST (GLOBE NEWSWIRE) --
Melco Crown Entertainment Limited (the 'Company') (Nasdaq:MPEL), a developer
and owner of casino gaming and entertainment resort facilities focused on the
Macau market, today announced the pricing of its international offering of
RMB-denominated bonds.
The offering consists of RMB2.3 billion (or approximately US$355.6 million
based on an exchange rate of RMB6.4685 to US$1.00) aggregate principal amount
of 3.75% bonds due 2013. The bonds were priced at par and the Company intends
to use the net proceeds from the offering to fund potential future growth and
expansion opportunities, which may include acquisitions, to repay existing
debt, to partially pre-fund certain scheduled interest payments on the bonds,
for working capital requirements and/or for general corporate purposes. The
Company may redeem the bonds at its option in whole, but not in part, at any
time after May 9, 2012, at their principal amount.
The bonds will be direct, general, unconditional, unsubordinated and unsecured
obligations of the Company which will at all times rank pari passu without any
preference or priority among themselves and at least pari passu with all of the
Company's other present and future unsecured and unsubordinated obligations,
save for such obligations as may be preferred by provisions of law that are
both mandatory and of general application.
Approval in-principle has been received for the listing of the bonds on the
Singapore Exchange Securities Trading Limited (the 'SGX-ST'). Admission of the
bonds to the SGX-ST is not to be taken as an indication of the merits of the
Company or the bonds.
The bonds are being offered outside the United States pursuant to Regulation S
under the Securities Act of 1933, as amended (the 'Securities Act'). The bonds
have not been and will not be registered under the Securities Act or applicable
state securities laws and may not be offered or sold in the United States
absent registration or an applicable exemption from the registration
requirements of the Securities Act and applicable state law.
This press release shall not constitute an offer to sell or the solicitation of
an offer to buy, nor shall there be any offer or sale of the bonds in any
jurisdiction in which such offer, solicitation or sale would be unlawful prior
to registration or qualification under the securities laws of any jurisdiction.
This press release is being issued pursuant to and in accordance with Rule 135c
under the Securities Act.
Safe Harbor Statement
This announcement contains forward-looking statements. These statements are
made under the 'safe harbor' provisions of the U.S. Private Securities
Litigation Reform Act of 1995. In some cases, forward-looking statements can be
identified by words or phrases such as 'may,' 'will,' 'expect,' 'anticipate,'
'target,' 'aim,' 'estimate,' 'intend,' 'plan,' 'believe,' 'potential,'
'continue,' 'is/are likely to' or other similar expressions. The Company may
also make written or oral forward-looking statements in its periodic reports to
the U.S. Securities and Exchange Commission, in its annual report to
shareholders, in press releases and other written materials and in oral
statements made by its officers, directors oremployees to third parties.
Statements that are not historical facts, including statements about the
Company's beliefs and expectations, are forward-looking statements.
Forward-looking statements involve inherent risks and uncertainties. A number
of factors could cause actual results to differ materially from those contained
in any forward-looking statement, including but not limited to the following:
growth of the gaming market and visitation in Macau; increased competition and
other planned casino hotel and resort projects in Macau and elsewhere in Asia;
the completion of infrastructure projects in Macau; government regulation of
the casino industry; our ability to raise additional financing; the formal
grant of occupancy permits for areas of City of Dreams undergoing construction
and/or development; our anticipated growth strategies; and our future business
development, results of operations and financial condition. Further information
regarding these and other risks is included in the Company's Annual Report on
Form 20-F filed on April 1, 2011 and other documents filed with the Securities
and Exchange Commission. The Company does not undertake any obligation to
update any forward-looking statement, except as required under applicable law.
All information provided in this press release is as of the date of this
release, and the Company undertakes no duty to update such information, except
as required under applicable law.
About Melco Crown Entertainment Limited
Melco Crown Entertainment Limited is a developer, owner and through a Macau
subsidiary which holds a gaming sub-concession, an operator of casino gaming
and entertainment casino resort facilities. The Company currently operates
Altira Macau (www.altiramacau.com) (formerly Crown Macau), a casino hotel
located at Taipa, Macau and City of Dreams (www.cityofdreamsmacau.com), an
integrated urban casino resort located in Cotai, Macau. The Company's business
also includes the Mocha Clubs (www.mochaclubs.com), which feature a total of
approximately 1,600 gaming machines in eight locations and comprise the largest
non-casino based operations of electronic gaming machines in Macau. For more
information about the Company, please visit www.melco-crown.com.
The Company has strong support from both of its major shareholders, Melco
International Development Limited ('Melco') and Crown Limited ('Crown'). Melco
is a listed company on the Hong Kong Stock Exchange and is substantially owned
and led by Mr. Lawrence Ho, who is Co-Chairman, a Director and the CEO of the
Company. Crown is a top-50 company listed on the Australian Stock Exchange and
led by Executive Chairman Mr. James Packer, who is also Co-Chairman and a
Director of the Company.
Investment Community, please contact:
Geoffrey Davis, CFA
Chief Financial Officer
Tel: +1 212 671 1936 or +853 8868 7887
Email: geoffreydavis(at)melco-crown.com
For media enquiry, please contact:
Maggie Ma
Head of Corporate Communications
Tel: +852 3151 3767
Email: maggiema(at)melco-crown.com
News Source: NASDAQ OMX
29.04.2011 Dissemination of a Corporate News, transmitted by DGAP -
a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
DGAP's Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de
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Language: English
Company: Melco Crown Entertainment Limited
CN
Phone:
Fax:
E-mail:
Internet:
ISIN: US9901093404
WKN:
End of Announcement DGAP News-Service
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Datum: 29.04.2011 - 15:38 Uhr
Sprache: Deutsch
News-ID 396053
Anzahl Zeichen: 8264
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Kategorie:
Wirtschaft (allg.)
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