Melco Crown Entertainment is to use a bond offering to finance future growth opportunities.
The company, which operates City of Dreams in Macau, has announced its intention to conduct an international offering of renminbi-denominated bonds with a value of approximately $350m.
The net proceeds, it said, will be used to fund potential expansion projects, which may include acquisitions, to repay its existing debts and other corporate purposes.
Last week, Melco Crown announced that its has entered into a new commitment with a group of lenders that has agreed to arrange and underwrite credit facilities of approximately $1.2bn to refinance the City of Dreams Project Facility.
