Studio City Finance announces tender offer for up to $100M of senior notes

Studio City Finance has initiated a cash tender offer for up to an aggregate principal amount of $100M of its outstanding 6.000% senior notes due 2025. The Tender Offer is being made upon and is subject to the terms and conditions set out in the Offer to Purchase, dated April 8, 2024. The Tender Offer will expire at 5:00 p.m., New York City time, on May 6, 2024, unless extended or terminated by Studio City Finance. Tenders of the Notes may be withdrawn at any time at or prior to 5:00 p.m., New York City time, on April 19, 2024, but may not be withdrawn thereafter except in certain limited circumstances where additional withdrawal rights are required by law. The consideration for each $1,000 principal amount of Notes validly tendered on or prior to 5:00 p.m., New York City time, on April 19, 2024, and accepted for purchase will be $1,000, which includes an early tender premium. The consideration for each $1,000 principal amount of Notes validly tendered after the Early Tender Date and on or prior to the Expiration Time and accepted for purchase will be $970. Notes will be accepted only in minimum denominations of $200,000 and integral multiples of $1,000 in excess thereof. The Notes may be subject to proration if the aggregate principal amount of the Notes validly tendered would cause the Maximum Tender Amount to be exceeded. The settlement for Notes validly tendered on or prior to the Early Tender Date and accepted for purchase is expected to occur on April 24, 2024 . The settlement for Notes validly tendered following the Early Tender Date but on or prior to the Expiration Time and accepted for purchase is expected to be May 8, 2024. If the Tender Offer is fully subscribed as of the Early Tender Date, holders who validly tender Notes following the Early Tender Date will not have any of their Notes accepted for payment unless Studio City Finance increases the Maximum Tender Amount.