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SJM Holdings ( (HK:0880) ) has issued an update.
SJM Holdings, through wholly owned subsidiary SJM International Limited, has agreed to issue US$540 million of 6.500% senior notes due 2031, with the company seeking to list the notes on the Hong Kong Stock Exchange. The net proceeds will be used to refinance existing debt and for general corporate purposes, a move the board says will extend the group’s debt maturity profile and improve financial flexibility. The notes will include a change-of-control clause giving investors the right to require a repurchase if certain ownership conditions are triggered, and a subsidiary of controlling shareholder STDM has agreed to subscribe to part of the issue, rendering that portion a connected transaction under Hong Kong listing rules.
The most recent analyst rating on (HK:0880) stock is a Hold with a HK$3.00 price target. To see the full list of analyst forecasts on SJM Holdings stock, see the HK:0880 Stock Forecast page.
More about SJM Holdings
SJM Holdings is a Hong Kong-listed gaming and entertainment group operating through subsidiaries in Macau, with a core focus on casino gaming, hospitality and related leisure services in one of the world’s largest gaming markets.
Average Trading Volume: 16,015,919
Technical Sentiment Signal: Strong Sell
Current Market Cap: HK$17.19B
See more insights into 0880 stock on TipRanks’ Stock Analysis page.