Inside Asian Gaming

IAG JUL 2023年7月 亞博匯 18 SUNTRUST TO NEGOTIATE US$446 MILLION LOAN FACILITY TO COMPLETE MANILA CASINO PROJECT SUNTRUST將就4.46 億美元的貸款與貸方協 商，凱升控股為擔保人 SUNTRUST RESORT HOLDINGS INC said its Board of Directors has given the green light for the company to negotiate and enter into a loan facility with China Banking Corporation for up to Php25 billion (US$446 million). According to details filed with the Philippine Stock Exchange, any such deal would comprise the execution of an Omnibus Loan and Security Agreement with the bank and other relevant parties, consisting of a Loan Facility Agreement, a Mortgage Agreement, a Security Agreement, a Suretyship Agreement and a Project Accounts Agreement, among others. The Board of Directors will also appoint its Chairman, Andrew Lo Kai Bong, and President, David Chua Ming Huat, as the company’s authorized signatories for the transaction. If secured, the loan facility would likely go a long way towards ensuring completion of Suntrust’s US$1 billion hotel and casino development in Manila – part of the larger Westside City project currently under construction in Entertainment City. It also comes just weeks after Suntrust agreed to a separate US$6 million loan from Lo. Suntrust said previously it was seeking a potential loan facility in order to complete its Manila project, which would involve putting up “all or substantially all” of its assets and properties as collateral. The project is slated to incorporate a 450-room hotel with a casino boasting 400 gaming tables and 1,200 slot machines. In a separate filing, providing further information on the loan facility, Summit Ascent Holdings – a fellow subsidiary of the companies’ parent LET Group Holdings – revealed its own subsidiary, SA Investments, would provide financial assistance to Suntrust via security and project support. Suntrust Resort Holdings Inc 表示，公司董事會已批准該公司與 中國銀行股份有限公司談判並達成一項高達250億披索（4.46億美 元）的貸款安排。 根據提交至菲律賓證券交易所的詳細信息，任何此類交易都 將包括與銀行及其他相關方簽署綜合貸款和擔保協議，包括貸款 融資協議、抵押協議、擔保協議、和項目賬戶協議等。 董事會還將任命主席盧啟邦和總裁David Chua Ming Huat作 為授權簽署人。 如果獲得擔保，這筆貸款將大大有助於確保Suntrust在馬尼 拉完成投資10億美元的酒店和賭場開發項目，該項目為目前正在 馬尼拉娛樂城建設中的大型Westside City的其中一部分。 就在幾周前，S u n t r u s t 剛獲得一筆6 0 0萬美元的貸 款。Suntrust此前表示，其正在尋求一項潛在的貸款安排，以完成 其馬尼拉項目，該項目將涉及將其「全部或幾乎全部」資產和財 產作為抵押品。 該項目計劃包括一個擁有450間客房的酒店、一個擁有400張 賭枱和1,200台角子機的賭場。 該公司在另一份文件中披露了有關貸款安排的更多信息。該 公司母企LET Group Holdings旗下的另一間子公司凱升控股透 露，旗下子公司SA Investments將通過安全和項目支持向Suntrust 提供財務支持。