Macau SAR

Melco Resorts & Entertainment, a Macau casino operator, returned to the dollar bond market on Wednesday, selling $600m of eight year bonds just a few months after a $500m issue in April.

One banker recently went to Macau for a long weekend with his friends, with plans to drink large amount of whisky, eat from overflowing plates of fine food, and gamble until the small hours of the morning. “I’m going to get lucky,” he promised me.

The Chinese Ministry of Finance (MoF) completed its maiden Rmb1.7bn ($247m) three year offshore renminbi bond in Macau on Thursday, pricing it slightly higher than onshore government bonds.

Macau casino operator Studio City Finance has priced a $600m deal to fund a tender offer, winning plaudits for its precise pricing. But while the company could return to the bond market again this year, overall supply from the sector is expected to be subdued.

Macau casino operator Studio City Finance raised $600m from a deal that was priced right around fair value, funding a tender offer. There could be more bonds from the company in 2019.

Sands China has closed a $2bn five year borrowing with participation from around 10 banks.

Bank of China returned to the bond market with a multi-tranche, multi-currency bond this week, making clear that its funding needs and its role as a flag-bearer of Chinese policy overseas are inextricably linked. Morgan Davis reports.

Studio City International Holdings priced its debut on the New York Stock Exchange (NYSE) at the top of its marketing range on Thursday, raising $359.4m.

China’s Niu Technologies has launched bookbuilding for a $103.8m Nasdaq IPO, but despite plenty of pre-deal interest, sources said they did not expect the trade to be a blowout.

Studio City International Holdings launched its $359.4m New York Stock Exchange listing on Wednesday, in a deal heavily anchored by its controlling shareholders.

Studio City International Holdings, the Macau-based casino resort, has filed publicly for an IPO in the US with an indicative size of $115m.

Macau gaming leader Sands China made waves in the debt market on Thursday with its mammoth $5.5bn triple-tranche bond debut.