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Genting Singapore has announced that its fully-owned unit Resorts World at Sentosa (RWS) has obtained S$2.27 billion worth of new facilities.
The five-year loans consist of S$1.750 billion syndicated term facility, S$500 million syndicated revolving credit facility and S$20 million bank guarantee facility from DBS Bank and Oversea-Chinese Banking Corporation (OCBC).
These new facilities were fully underwritten by the original mandated lead arrangers and bookrunners, namely OCBC, DBS Bank, Sumitomo Mitsui Banking Corp, the Bank of Tokyo-Mitsubishi UFJ, as well as Hongkong and Shanghai Banking Corporation, it said in an SGX filing.
The new loans will be used primarily to refinance RWS’s existing facilities amounting to $4.1925 billion which was taken out in 2011.
Aside from enabling the company to extend the tenure of its existing loans to 2020, the new facilities will also provide better repayment terms, which will strengthen its balance sheet and improves financial flexibility.
Nikki De Guzman, Editor at CommercialGuru, edited this story. To contact her about this or other stories email nikki@propertyguru.com.sg.
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