Macau SAR

Melco Resorts & Entertainment has closed a HK$14.85bn ($1.9bn) revolving credit facility to refinance an old borrowing maturing this June.

Bank of China took Covid-19-linked bonds offshore on Thursday with a dual currency two year transaction, which was offered through its Macau branch.

China’s Powerlong Real Estate Holdings is returning to the international loan market to refinance some of its debt, mandating one bank to lead the deal.

In this round-up, Chinese president Xi Jinping headed to Macau for the 20th anniversary of the handover, the National People’s Congress will hold a fourth reading of the Securities Law next week and the People’s Bank of China (PBoC) has lowered the 14-day reverse repo rate.

In this round-up, US president Donald Trump reportedly signed the phase one trade deal on Thursday, China concluded the Central Economic Work Conference and the Mainland government is set to turn Macau into a financial hub with new policies.

Wynn Macau, a hotel and casino resort, raised $1bn from its bond return on Tuesday, surpassing expectations on both size and price.

In this round-up, conflicting trade war headlines confuse the market, Huawei sues the Federal Communication Commission amid public relations troubles at home and the People’s Bank of China (PBoC) signs a three year bilateral currency swap agreement with the Monetary Authority of Macao.

Macau casino operator Melco Resorts & Entertainment, Philippine power company AC Energy and a local government financing vehicle from Jiangxi were among the crop of issuers to hit the bond market on Tuesday.

Beijing Infrastructure Investment Co has returned to the dim sum bond market after a five year break. The tightly priced Rmb1bn ($142m) deal was the first from an investment grade state-owned corporate issuer in the CNH market this year.

In this round-up, the US and China agree to meet in October in Washington, Hong Kong's chief executive formally withdraws the extradition bill and the Chinese state council is set to release local government bond quotas for 2020 early.

Macau casino operator MGM China has raised its first unsecured borrowing, joining a handful of companies raising straight loans to replace outstanding secured facilities. Bankers think that plenty more casinos will take a punt on the format. Pan Yue reports.

MGM China has raised a HK$9.75bn ($1bn) unsecured revolving credit facility with a group of 13 lenders to repay its old secured borrowings.