RWS secures $2.27b credit facilities
GENTING Singapore said its indirect wholly-owned subsidiary Resorts World Sentosa (RWS) has executed an agreement for syndicated senior secured credit facilities worth $2.27 billion.
The new facilities will be used primarily for refinancing RWS' existing facilities of $4.2 billion obtained in 2011. The five-year facilities comprise a $1.75 billion syndicated term loan facility, a $500 million syndicated revolving credit facility and $20 million bank guarantee facility, provided by DBS Bank and OCBC Bank.
In an announcement to the Singapore Exchange, Genting Singapore said the new facilities will enable RWS to extend the tenure of its existing facilities to 2020 and offer the firm better repayment terms, which enhance its balance sheet strength and financial flexibility.
The facilities are fully underwritten by the original mandated lead arrangers and bookrunners: Bank of Tokyo-Mitsubishi UFJ, DBS, the Hongkong and Shanghai Banking Corp, OCBC and Sumitomo Mitsui Banking Corp.
THE BUSINESS TIMES