he Macau casino developer will now have senior secured credit facilities totaling us$ 1.75 billion, including a us$ 1.5 billion term loan facility and a us$ 250 million revolving credit facility. Melco said the loans, from a group of banks, range from five to seven years.
Proceeds of the term loan will be used to finance the City of Dreams resort’s construction and development. Proceeds from the revolving credit facility will go toward City of Dreams contingencies and general working capital requirements for the borrowing group.
Melco PBL Gaming will pay a commitment fee on any undrawn facilities.