SJM Holdings has offered the senior notes to professional investors by agreeing to enter into a purchase agreement.
As per, Gambling Insider, the agreement is rated to issue HK$1.25bn ($160.9m) 3.9% of senior notes and another for MOP300m ($37.5m) 3.9% of senior notes. The issue date for both of the offerings is set for 12 May and will be due in 2026.
The company expects the net proceeds from the notes to be approximately HK$1.24bn and MOP298m after expenses.
As per Gambling Insider, the company issued a statement, which read as: “the company intends to use approximately 90% of the net proceeds from the proposed offering for refinancing the Syndicated Credit Facilities and the balance for general corporate purposes.”