Inside Asian Gaming

IAG JUN 2021年6月 亞博匯 18 GENTING HONG KONG REACHES AGREEMENT WITH LENDERS 雲頂香港與 貸方達成協議 亞博匯早報 BREAKFAST BRIEFS GLOBAL CRUISE SHIP OPERATOR Genting Hong Kong says it has reached an agreement with its creditors to undergo a “holistic recapitalization” that will see the company granted extensions to maturities around its US$2.6 billion of debt. The agreement relates to the group’s announcement in August 2020 that it was suspending all payments to financial creditors in order to preserve liquidity due to the impact of the COVID-19 pandemic on its businesses. That solution has now been reached. According to an early May update, Genting Hong Kong’s relevant financial creditors, partners and other stakeholders have provided a formal written agreement and term sheets which outline the key terms of a “holistic, solvent amendment and restatement” of the group’s financial indebtedness and recapitalization transaction. Among the lengthy list of terms, the German Economic Stabilization Fund (WSF) will provide to MV Werften a € 215 million loan plus an € 85 million silent participation – the latter essentially giving it a small stake in the company to help fund completion of two new cruise ships currently under construction, Crystal Endeavor and Global Dream. Group financial indebtedness of US$981 million has seen maturity extended and interest margins reduced, while amortization payments under US$1.5 billion of financing agreements entered into by Dream Cruises, Crystal Cruises and Star Cruises have been suspended for at least two years. Financial covenant testing under the group’s existing financial arrangements has also been suspended. 國際郵輪營運商雲頂香港 表示，已經與債 權人達成協議進行「全面資金重組」，該公 司將獲准延長其26億美元債務的到期日。 該公司此前於2020年8月發布公告稱， 暫停向集團財務債權人作出包括利息及租 船費在內的所有付款，從而在新冠疫情持 續的狀況下為集團保留更多的流動資金。 解決方案現已達成。 根據五月初的更新，雲頂香港的相關 財務債權人、合作夥伴及其他利益持份者 已提供正式書本協議，內容有關達致一個 整體及有償付能力的集團財務債項修訂和 重列及資金重整交易。 在冗長的條款清單中，德國經濟穩定 基金（WSF）將向MV Werften公司提供2.15 億歐元的貸款以及8500萬歐元的不公開參 與資本（通過向貸款人提供附帶有限追索 權的股權以換取注資的一種借款形式），藉 以為完成已部分完工的 Crystal Endeavor 及環球夢號船舶的建造提供資金。 該集團現有9.81億美元的財務債項到 期日獲答復延長，息差也獲收窄，並暫停由 星夢郵輪、水晶郵輪及麗星郵輪實體各自 訂立的15億美元有抵押融資還款至少兩 年。 該集團在現融資安排下的財務契約測 試也已暫停。