New York,
April 26, 2011 – Melco Crown
Entertainment Limited (the “Company”) (NASDAQ: MPEL), a developer
and owner of casino gaming and entertainment resort facilities
focused on the Macau market, today announced that it intends to
conduct an international offering of RMB-denominated bonds in an
aggregate amount of the equivalent of approximately US$350 million
and use the net proceeds from the proposed offering to fund
potential future growth and expansion opportunities, which may
include acquisitions, to repay existing debt, to partially pre-fund
certain scheduled interest payments on the bonds, for working capital requirements and/or for
general corporate purposes.
The bonds will
be direct, general, unconditional, unsubordinated and unsecured
obligations of the Company which will at all times rank pari passu
without any preference or priority among themselves and at least
pari passu with all of the Company’s other present and future
unsecured and unsubordinated obligations, save for such obligations
as may be preferred by provisions of law that are both mandatory
and of general application.
The interest
rate and other terms of the bonds will be determined at the time of
pricing of the offering.
The bonds are
being offered outside the United States pursuant to Regulation S
under the Securities Act of 1933, as amended (the “Securities
Act”). The bonds have not been and will
not be registered under the Securities Act or applicable state
securities laws and may not be offered or sold in the United States
absent registration or an applicable exemption from the
registration requirements of the Securities Act and applicable
state law.
This press
release shall not constitute an offer to sell or the solicitation
of an offer to buy, nor shall there be any offer or sale of the
bonds in any jurisdiction in which such offer, solicitation or sale
would be unlawful prior to registration or qualification under the
securities laws of any jurisdiction.
This press release is being issued pursuant to and in accordance
with Rule 135c under the Securities Act.
Safe Harbor
Statement
This
announcement contains forward-looking statements. These statements
are made under the “safe harbor” provisions of the U.S. Private
Securities Litigation Reform Act of 1995. In some cases,
forward-looking statements can be identified by words or phrases
such as “may,” “will,” “expect,” “anticipate,” “target,” “aim,”
“estimate,” “intend,” “plan,” “believe,” “potential,” “continue,”
“is/are likely to” or other similar expressions. The Company may
also make written or oral forward-looking statements in its
periodic reports to the U.S. Securities and Exchange Commission, in
its annual report to shareholders, in press releases and other
written materials and in oral statements made by its officers,
directors or employees to third parties. Statements that are not
historical facts, including statements about the Company’s beliefs
and expectations, are forward-looking statements. Forward-looking
statements involve inherent risks and uncertainties. A number of
factors could cause actual results to differ materially from those
contained in any forward-looking statement, including but not
limited to the following: growth of the gaming market and
visitation in Macau; increased competition and other planned casino
hotel and resort projects in Macau and elsewhere in Asia; the
completion of infrastructure projects in Macau; government
regulation of the casino industry; our ability to raise additional
financing; the formal grant of occupancy permits for areas of City
of Dreams undergoing construction and/or development; our
anticipated growth strategies; and our future business development,
results of operations and financial condition. Further information
regarding these and other risks is included in the Company’s Annual
Report on Form 20-F filed on April 1, 2011 and other documents
filed with the Securities and Exchange Commission. The Company does
not undertake any obligation to update any forward-looking
statement, except as required under applicable law. All information
provided in this press release is as of the date of this release,
and the Company undertakes no duty to update such information,
except as required under applicable law.
About Melco
Crown Entertainment Limited
Melco Crown
Entertainment Limited is a developer, owner and through a Macau
subsidiary which holds a gaming sub-concession, an operator of
casino gaming and entertainment casino resort facilities. The
Company currently operates Altira Macau (www.altiramacau.com)
(formerly Crown Macau), a casino hotel located at Taipa, Macau and
City of Dreams (www.cityofdreamsmacau.com), an integrated urban
casino resort located in Cotai, Macau. The Company’s business also
includes the Mocha Clubs (www.mochaclubs.com), which feature a
total of approximately 1,600 gaming machines in eight locations and
comprise the largest non-casino based operations of electronic
gaming machines in Macau. For more information about the Company,
please visit www.melco-crown.com.
The Company
has strong support from both of its major shareholders, Melco
International Development Limited (“Melco”) and Crown Limited
(“Crown”). Melco is a listed company on the Hong Kong Stock
Exchange and is substantially owned and led by Mr. Lawrence
Ho, who is Co-Chairman, a Director and the CEO of the Company.
Crown is a top-50 company listed on the Australian Stock Exchange
and led by Executive Chairman Mr. James Packer, who is also
Co-Chairman and a Director of the Company.
Investment
Community, please contact:
Geoffrey Davis, CFA
Chief Financial Officer
Tel: +1 212 671 1936 or +853 8868 7887
Email: [email protected]
For media
enquiry, please contact:
Maggie Ma
Head of Corporate Communications
Tel: +852 3151 3767
Email: [email protected]