Genting Hong Kong enters into facilities agreement

The agreement contains a specific performance obligation imposed on the Lim Family.

Genting Hong Kong, as the borrower, entered into a facilities agreement with, inter alios, Bank of America, N.A. as the agent and the security agent; and Bank of America, N.A., CIMB Bank Berhad, Labuan Offshore Branch, and Malayan Banking Berhad as mandated lead arrangers.

It is for the purpose of acquiring a secured term loan and revolving credit facilities for funding general corporate purposes and the payment of fees, costs and expenses in connection with the finance documents in relation to the facilities.

The announcement said that the facilities comprise the term loan facility and the revolving credit facility in an aggregate amount of up to US$300 million. The final maturity date of all outstanding amounts under the facilities will be the date falling 36 months from the date of the facilities agreement.

Meanwhile the Lim Family is required, together or individually, directly or indirectly, to hold the largest percentage of the issued share capital of, and equity interest in, the company. The Lim Family’s holding shall include any interest which the Lim Family, together or individually, is deemed to hold in accordance with Part XV of the SFO and in addition, any interest in the company held by GENT, GENM and their respective affiliates.