SJM Unit Taps Bond Market With $540 Million Issue

MT Newswires Live01-09

SJM Holdings (HKG:0880) said its wholly owned subsidiary, SJM International, has issued $540 million of 6.5% senior notes due 2031, according to a Friday Hong Kong bourse filing.

The casino and hotel operator said net proceeds will be used to refinance existing debt and for general corporate purposes.

SJM said it plans to seek a listing of the notes on the Hong Kong Stock Exchange and has received an eligibility letter from the exchange.

A subsidiary of Sociedade de Turismo e Diversões de Macau (STDM), the company's controlling shareholder, subscribed for part of the notes.

Concurrently, SJM is launching a cash tender offer to repurchase its outstanding 2026 notes, to be funded with proceeds from the new issuance and internal resources.

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