• About Us
  • The Team
  • Advertise with Us

The latest news on the gaming industry in Asia

() () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () ()
  • Home
  • Macau
  • Philippines
  • Singapore
  • Japan
  • Rest of Asia
  • World
  • Features
  • Industry Talk
  • Trends & Tech
  • follow
    • Facebook
    • Twitter
    • RSS Feed
    • LinkedIn

Melco Crown’s Macau unit gets senior loan extension

Jun 22, 2015 Newsdesk Latest News, Macau, Top of the deck  


Melco Crown’s Macau unit gets senior loan extension

Asian casino developer Melco Crown Entertainment Ltd said its unit Melco Crown (Macau) Ltd has agreed with lenders an extension on the term of its senior loan facilities with a syndicate of banks.

Under the new deal – the seventh amendment to its senior facilities – Melco Crown (Macau) will be entitled to a US$1.75-billion facility. It will consist of a US$500 million term loan over six years, and a US$1-billion revolving credit facility, with the option of increasing the latter by another US$250 million over five years, subject to conditions.

The parent said in a filing in Hong Kong after trading hours on Friday that it expects the term loan to be fully drawn down by June 29, adding that the amended facility can be used to “refinance the outstanding balance of the original facilities and general corporate purposes of the company and its subsidiaries.”

The parent is 60 percent owner of the US$3.2-billion Studio City resort currently under construction on Cotai in Macau. It is due to open later this year.

The original senior credit facilities were secured against the parent’s City of Dreams and Altira casino resort assets in Macau, as will the amended facility.

A condition of the amended facility is that Melco International Development Ltd led by Lawrence Ho Yau Lung, and Crown Resorts Ltd, led by James Packer, control directly or indirectly at least 30 percent of the issued share capital of Melco Crown Entertainment.

According to Friday’s filing, each partner currently has 34.29 percent of Melco Crown.


  • tweet
Related articles
  • Satellite casinos in Cyprus open by spring 2019: Melco Intl
    Satellite casinos in Cyprus open by...

    Sep 20, 2018  

  • The Stars Group acquires majority stake in CrownBet
    The Stars Group acquires majority stake...

    Feb 28, 2018  

More news
  • Okada side says mogul released from HK graft watchdog bail
    Okada side says mogul released from HK...

    Feb 22, 2019  

  • Novomatic affirms Jade Ent as SE Asia distributor
    Novomatic affirms Jade Ent as SE Asia...

    Feb 22, 2019  


Latest News

Okada side says mogul released from HK graft watchdog bail

Okada side says mogul released from HK graft watchdog bail

Feb 22, 2019  

A statement issued on Friday on behalf of Japanese gaming entrepreneur Kazuo Okada (pictured) said that Hong Kong’s anti-graft agency the Independent Commission Against Corruption (ICAC), had...
Read More
Novomatic affirms Jade Ent as SE Asia distributor

Novomatic affirms Jade Ent as SE Asia distributor

Feb 22, 2019  

Marina Bay Sands opens Tao Group nightclub April 12

Marina Bay Sands opens Tao Group nightclub April 12

Feb 22, 2019  

Aristocrat buys PlayerMax digital assets for use in Oasis 360

Aristocrat buys PlayerMax digital assets for use in Oasis...

Feb 22, 2019  

Sign up to our FREE Newsletter

UB8V5.qr.16(Click here for more)

Pick of the Day

"We are building momentum and continuing to grow our business while at the same time operating more efficiently"

Barry Cottle

Chief executive and president of casino equipment maker and lottery services supplier Scientific Games



Most Popular

  • Fok link up helps SJM on Macau casino rights: Daisy HoFok link up helps SJM on Macau casino rights: Daisy Ho February 21, 2019
  • Deal to reveal details in Wynn ‘sex misconduct’ probeDeal to reveal details in Wynn ‘sex misconduct’ probe February 21, 2019
  • Macau junket business growth fastest overseas: MSMacau junket business growth fastest overseas: MS February 22, 2019
  • Lawrence Ho further increases stake in Melco ResortsLawrence Ho further increases stake in Melco Resorts February 22, 2019
Copyright 2014-2019 TEAM Publishing and Consultancy Ltd / All rights reserved
  • Code of Ethics
  • Privacy Policy
  • Useful Links
  • Contact Us