MGM Stock – MGM China completes dual bond listing on the Macau Stock Exchange – IAG – inside Asian gaming
MGM China Holdings Limited claims to have become the first integrated resort operator to complete a dual listing of senior US dollar denominated notes on the Hong Kong Stock Exchange and Macau Bond Market.
The company revealed on Monday that its 4.75% US $ 750 million senior notes due 2027, issued on March 26, 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, reflects its determination to fulfill its social responsibilities as a leading developer and operator of integrated resort hotels in the Greater China region and to support the development of Macao’s financial industry.
“Over the past decade, MGM China has always been committed to creating new cultural tourism experiences and diversifying Macau’s economy,” said the president, chief strategic and financial officer of the company, Kenneth Feng.
“At the start of China’s 14th Five-Year Plan, Macau is well prepared to develop a modern financial industry with the undivided support of the central government. As a vital member of the city’s tourism and leisure businesses, we are committed to supporting government direction and contributing to the success of Macau’s financial sector.
Mex Zhang, executive chairman and chairman of MOX, added, “We welcome MGM China to participate in building the Macau bond market. This listing is an important step in promoting Macau’s economic diversification and supporting the development of Macau’s modern financial sector.
“MOX and MGM China hope that this first cooperation will help connect the financial trading platform and tourism and leisure businesses in Macau, which will ultimately create more financing channels for these businesses.”
The creation of a securities market in Macau was first confirmed last November, with government officials saying at the time that it planned to focus on bonds in order to differentiate itself from the Hong stock markets. Kong and Shenzhen.
Last week, SJM Holdings completed an offer of US $ 200 million of senior notes to be listed on MOX.