Exhibit 99.1
Studio City Finance Limited Announces Tender Offer for
Up to US$75 Million of Its 6.000% Senior Notes due 2025
MACAU, Nov. 09, 2023 (GLOBE NEWSWIRE) — Studio City Finance Limited (“Studio City Finance”) today announces that it has initiated a cash tender
offer for up to an aggregate principal amount of US$75 million (the “Maximum Tender Amount”) of its outstanding 6.000% senior notes due 2025 (ISIN: US86389QAE26 and USG85381AE48) (the “Notes” and such tender offer, the
“Tender Offer”).
The Tender Offer is being made upon and is subject to the terms and conditions set out in the Offer to Purchase, dated
November 9, 2023 (the “Offer to Purchase”). The Tender Offer will expire at 5:00 p.m., New York City time, on December 8, 2023, unless extended or terminated by Studio City Finance (the “Expiration Time”). Tenders of
the Notes may be withdrawn at any time at or prior to 5:00 p.m., New York City time, on November 22, 2023 (the “Withdrawal Deadline”), but may not be withdrawn thereafter except in certain limited circumstances where additional
withdrawal rights are required by law.
The consideration for each US$1,000 principal amount of Notes validly tendered (and not validly withdrawn) on or
prior to 5:00 p.m., New York City time, on November 22, 2023 (the “Early Tender Date”), and accepted for purchase will be US$975, which includes an early tender premium. The consideration for each US$1,000 principal amount of Notes
validly tendered (and not validly withdrawn) after the Early Tender Date and on or prior to the Expiration Time and accepted for purchase will be US$945. Notes will be accepted only in minimum denominations of US$ 200,000 and integral multiples of
US$1,000 in excess thereof. The Notes may be subject to proration if the aggregate principal amount of the Notes validly tendered (and not validly withdrawn) would cause the Maximum Tender Amount to be exceeded.
The settlement for Notes validly tendered (and not validly withdrawn) on or prior to the Early Tender Date and accepted for purchase is expected to occur on
November 28, 2023 (the “Early Payment Date”) (or the Final Payment Date (defined below) if Studio City Finance elects not to have an Early Payment Date). The settlement for Notes validly tendered (and not validly withdrawn) following
the Early Tender Date but on or prior to the Expiration Time and accepted for purchase is expected to be December 12, 2023 (the “Final Payment Date”). If the Tender Offer is fully subscribed as of the Early Tender Date, holders who
validly tender Notes following the Early Tender Date will not have any of their Notes accepted for payment unless Studio City Finance increases the Maximum Tender Amount.
Studio City Finance has reserved the right to extend, amend or terminate the Tender Offer at any time in its sole discretion, including by increasing or
decreasing the Maximum Tender Amount. Studio City Finance is not required to extend the Withdrawal Deadline in connection with any such increase or decrease.
The Tender Offer is being made solely pursuant to the Offer to Purchase, which sets forth the complete terms of the Tender Offer. Copies of the Offer to
Purchase are available from the Tender and Information Agent, Kroll Issuer Services Limited, at the following website: https://deals.is.kroll.com/studiocity. Studio City Finance has engaged Deutsche Bank AG, Singapore Branch to act as the
sole dealer manager for the Tender Offer. Questions regarding the terms of the Tender Offer should be directed to Deutsche Bank AG, Singapore Branch at One Raffles Quay, #17-00 South Tower, Singapore 048583,
Attention: Global Risk Syndicate (Tel: +65 6423-4229), with a copy to Deutsche Bank AG, London Branch at Winchester House, 1 Great Winchester Street, London EC2N 2DB, United Kingdom, Attention: Liability Management Group (Tel: +44 207-545-8011) and Deutsche Bank Securities Inc. at 1 Columbus Circle, New York, New York 10019, United States of America, Attention: Liability Management Group (Tel: +1 855-287-1922 / +1 212-250-7527). Studio City Finance has appointed Kroll Issuer Services
Limited to serve as the tender and information agent for the Tender Offer. Questions regarding the procedures for participating in the Tender Offer or requests for additional copies of the Offer to Purchase should be directed to Kroll Issuer
Services Limited, Attention: Mu-yen Lo and Kevin Wong (Tel: +852 2281-0114, Email: studiocity@is.kroll.com).
This
press release is not an offer to sell, a solicitation to buy or an offer to purchase or sell any securities. The Tender Offer is being made solely by the Offer to Purchase. None of Studio City Finance, its board of directors, the trustee, the dealer
manager, the tender and information agent or any of their respective affiliates make any recommendations as to whether or not holders should tender their Notes pursuant to the Tender Offer, and no one has been authorized by any of them to make such
recommendations. Holders must make their own decisions as to whether to tender their Notes, and, if so, the principal amount of the Notes to tender.
The
distribution of this announcement in certain jurisdictions may be restricted by law. Persons into whose possession this press release comes are required to inform themselves about, and to observe, any such restrictions.
This press release is for information purposes only and does not constitute an invitation or offer to acquire, purchase or subscribe for the securities
referred to herein. Nothing in this press release constitutes an offer to buy, or a solicitation of an offer to sell, securities in the United States or any other jurisdiction in which such offer or solicitation would be unlawful prior to
registration or qualification under the securities laws of any such jurisdiction.
