MGM China Holdings Limited says it has become the first integrated resort operator to complete a dual listing of US dollar-denominated senior notes on the Hong Kong Stock Exchange and Macau bond market.
The company revealed Monday that its US$750 million 4.75% Senior Notes due 2027, which were issued on 26 March 2021 and listed on the Hong Kong Stock Exchange five days later, have now been successfully listed on Chongwa (Macao) Financial Asset Exchange Co., Ltd (MOX).
The decision to complete a dual listing, MGM China said, is a reflection of its determination to fulfil its corporate social responsibilities as a leading developer and operator of integrated resort hotels in the Greater China region, and to support the development of Macau financial industry.
“Over the past decade, MGM China has always been committed to creating brand new cultural tourism experiences and diversifying Macau’s economy,” said the company’s President, Chief Strategic & Financial Officer, Kenneth Feng.
“At the start of China’s 14th Five-Year Plan, Macau is well prepared to develop a modern financial industry under the undivided support from the Central Government. As a core member of the city’s tourism and leisure enterprises, we are pledged to support the government’s direction and contribute to the success of Macau’s financial industry.”
Mex Zhang, Executive Chairman and President of MOX, added, “We welcome MGM China to participate in the building of the Macau bond market. This listing is an important step to promote Macau’s economic diversification and support the development of Macau’s modern financial industry.
“Both MOX and MGM China hope this first cooperation would contribute in bridging the financial trading platform and tourism and leisure enterprises in Macau, which eventually creates more financing channels for these enterprises.”
Creation of securities market in Macau was first confirmed last November with government officials stating at the time that it planned to focus on bonds in order to differentiate from stock markets in Hong Kong and Shenzhen.
SJM Holdings last week completed a US$200 million offering of senior notes to be listed on MOX.