Melco Resorts Finance Ltd, a wholly-owned subsidiary of casino operator Melco Resorts & Entertainment Ltd, announced on Monday a proposal to conduct an international offering of senior notes. “The new notes are proposed to be senior obligations of Melco Resorts Finance, ranking equally with all of Melco Resorts Finance’s existing and future senior indebtedness,” said the group in a press release. Melco Resorts Finance on Monday also announced that it had started a conditional cash tender offer for any and all of its outstanding 5.250-percent senior notes due in 2026. According to CBRE Equity Research, the Melco group plans to issue US$500 million of new notes to redeem its US$500-million notes due in 2026. On September 1, Moody’s Ratings affirmed the rating of the Melco Resorts group – including Melco Resorts Finance – at ‘Ba3’, with a ‘stable’ outlook.