MGM China Holdings said in a statement that its USD 750 million in 4.75% senior notes due in 2027 had now also been listed on Macau’s bond market, the Chongwa Financial Asset Exchange Co Ltd, known as MOX.

MOX was founded in 2018 by Chinese state-owned firm Nam Kwong Co Ltd.

MGM China said its exercise was the “first dual-listing of U.S.-dollar senior notes by an integrated resort hotel operator in Macau”, involving the Hong Kong and Macau bond markets.

Mex Zhang, executive chairman and president of MOX, was quoted in the press release issued by MGM China as saying: “We welcome MGM China to participate in the building of the Macau bond market.”

He added: “This listing is an important step to promote Macau’s economic diversification and support the development of Macau’s modern financial industry.”

On May 16, another Macau casino operator, SJM Holdings, said it had completed a listing on MOX, of senior notes at 3.9% interest and due in 2026, to the value of HKD 1.25 billion and MOP 300 million respectively.

SJM Holdings said the move was “the first time that a major tourism business in Macau has issued debt instruments for listing on MOX”. The chief financial officer of the company Benjamin Toh Hup Hock said it had been “well-received” by investors.

Macau has pledged to diversify its economy beyond tourism and casino gambling, including by way of creating a market for financial services.

Editing by Rachel Hu