The Macau Metro Monitor, January 24, 2013
MELCO CROWN TO SIGN $1.4 BLN LOAN ON FRIDAY Reuters
On Friday, MPEL will sign the US$1.4 billion syndicated loan backing its Macau Studio City project which is expected to cost over $2.5 billion. The loan was led by eight mandated lead arrangers and bookrunners, including Bank of China Macau, Industrial & Commercial Bank of China Macau, ANZ, Bank of America Merrill Lynch, Citigroup, Deutsche Bank, Credit Agricole CIB and UBS.
The five-year deal is split into a US$1.3 billion amortizing loan and a US$100 million revolving credit. The loand has a rate of L+450bps plus commitment fees adding up to an all-in rate of L+483bps and a duration of 4.8 years.
CAESARS JOINS KOREAN CASINO PROJECT Macau Business
Caesars has joined Hong Kong-listed Lippo Ltd in a casino project in South Korea. According to a Lippo statement to the Hong Kong Stock Exchange, the two companies agreed on Wednesday to the terms under which they will seek permission from the South Korean government to develop a casino resort in Incheon, a city near the country’s capital of Seoul. Caesars will own 40% of the venture, Lippo will own 20%, and another partner will hold the remaining 40%.
