Form 6-K
FORM 6-K
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
REPORT OF FOREIGN ISSUER
PURSUANT TO RULE 13a16 OR 15d16 OF THE
SECURITIES EXCHANGE ACT OF 1934
For the month of July 2011
Commission File Number: 001-33178
MELCO CROWN ENTERTAINMENT LIMITED
36th Floor, The Centrium
60 Wyndham Street
Central
Hong Kong
(Address of principal executive offices)
Indicate by check mark whether the registrant files or will file annual reports under cover Form 20F or Form 40F.
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1): o
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7): o
Indicate by check mark whether by furnishing the information contained in this Form, the registrant is also thereby furnishing the information to the Commission pursuant to Rule 12g32(b) under the Securities Exchange Act of 1934.
If Yes is marked, indicate below the file number assigned to the registrant in connection with Rule 12g32(b):
82 N/A
MELCO CROWN ENTERTAINMENT LIMITED
Form 6-K
TABLE OF CONTENTS
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly
caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
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MELCO CROWN ENTERTAINMENT LIMITED
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By: |
/s/ Geoffrey Davis
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Name: |
Geoffrey Davis, CFA |
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Title: |
Chief Financial Officer |
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Date: July 1, 2011
Exhibit 99.1
Exhibit 99.1
FOR IMMEDIATE RELEASE
Melco Crown Gaming (Macau) Limited Closes Refinancing
New York, July 1, 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 on June 30, 2011, its subsidiary, Melco Crown Gaming (Macau) Limited
(MPEL Gaming), completed the refinancing of its existing credit facilities primarily connected to
the City of Dreams and Altira projects (City of Dreams Project Facility). The refinancing credit
facilities (New Facilities) are for approximately US$1,200 million, and were arranged by
Australia and New Zealand Banking Group Limited, Bank of America, N.A., Bank of China Limited,
Macau Branch, Commerzbank AG and Deutsche Bank AG, Singapore Branch as coordinating lead arrangers
and bookrunners. The transaction was previously announced to the market on April 26, 2011 following
MPEL Gamings entry into a commitment letter with a group of lenders on April 21, 2011.
The New Facilities consist of an amortizing term loan facility for the equivalent of
approximately US$800,000,000 (Term Loan Facility) for the purpose of partially refinancing
existing debt and the payment of associated fees, costs and other expenses and a revolving credit
facility for the equivalent of approximately US$400,000,000 (Revolving Credit Facility) to fund
the partial refinancing of existing debt, certain maintenance capital expenditure and general
working capital purposes. The Term Loan Facility has been fully drawn and the balance of the
Revolving Credit Facility will be available for drawdown in Hong Kong dollars, each bearing
interest at HIBOR plus a margin. Compared to the terms of the City of Dreams Project Facility, the
New Facilities reduce and remove certain restrictions on our business that were imposed by the
covenants in the City of Dreams Project Facility, providing us with greater flexibility to conduct
our business and pursue growth and expansion opportunities. Although the pricing terms of the New
Facilities are higher than the pricing terms of the City of Dreams Project Facility, we believe
they are in line with market pricing terms. The term of the New Facilities is five years (or, if
earlier, on the date of repayment, prepayment and/or cancellation of the New Facilities), which is
beyond the maturity date of the City of Dreams Project Facility.
MCE Finance Limited (MCE Finance), a wholly-owned subsidiary of the Company, had previously
issued US$600,000,000 senior notes due 2018 (the Notes). As part of the refinancing transaction
of MPEL Gaming, the guarantees provided under the Notes were amended with the principal effect
being that claims of noteholders under the Notes against subsidiaries of MCE Finance that are
obligors under the New Facilities now rank pari passu in right of payment with claims of lenders
under the New Facilities.
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 Companys 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
Companys 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 Companys 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.
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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:
Ross Dunwoody
Vice President, Investor Relations
Tel: +853 8868 7575 or +852 2598 3689
Email: rossdunwoody@melco-crown.com
For media enquiry, please contact:
Maggie Ma
Head of Corporate Communications
Tel: +852 3151 3767
Email: maggiema@melco-crown.com
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