GENTING Singapore said its indirect wholly-owned subsidiary Resorts World at Sentosa (RWS) has executed an agreement for syndicated senior secured credit facilities worth S$2.27 billion.
The new facilities will be utilised primarily for refinancing RWS's existing facilities of S$4.1925 billion obtained in 2011. The five-year facilities comprise a S$1.75 billion syndicated term loan facility, a S$500 million syndicated revolving credit facility and S$20 million bank guarantee facility, provided by DBS Bank and OCBC.
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 also 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: The Bank of Tokyo-Mitsubishi UFJ, DBS Bank, The Hongkong and Shanghai Banking Corp, OCBC and Sumitomo Mitsui Banking Corp.