Resorts World at Sentosa secures S$4b credit for IR development

Resorts World at Sentosa has secured S$4 billion in credit facilities for its integrated resort development.

The credit facilities would fund two-thirds of the company’s projected cost of S$6 billion.

The rest of the funds will come through a rights issue by Genting International, the parent of Resorts World.

DBS and OCBC are among five local and international banks which will underwrite, bookrun and arrange the syndication of the loan.

The others are HSBC, Royal Bank of Scotland and Sumitomo Mitsui Banking Corp.

The tenure extends to end 2015.

The syndication will be among the largest ever undertaken in Singapore.

Resorts World said it’s on track to opening the integrated resort in early 2010. -CNA/vm

Source : Channel NewsAsia – 11 Feb 2008

Join The Discussion

Compare listings