Melco Crown Said to Hire Banks for About $1.25 Billion Loan
February 08, 2012, 2:55 PM ESTBy Wendy Mock
(Updates the lender list to include ICBC in the first paragraph.)
Feb. 8 (Bloomberg) -- Melco Crown Entertainment Ltd., a casino developer, hired seven banks to arrange a loan of about $1.25 billion, two people familiar with the matter said.
Australia & New Zealand Banking Group Ltd., Bank of America Corp., Bank of China Ltd., Citigroup Inc., Deutsche Bank AG and Industrial & Commercial Bank of China Ltd. are among the lenders in the senior bank group, the people said, asking not to be identified because the details are private.
Proceeds from the loan will be used to fund Melco Crown’s Studio City resort project in Macau, another four people familiar with the matter said on Jan. 19.
The company last borrowed from banks in June, according to data compiled by Bloomberg. Its $1.2 billion facility matures in 2016, the data show.
--Editors: Shelley Smith, Andrew Monahan
To contact the reporter on this story: Wendy Mock in Hong Kong at wmock3@bloomberg.net
To contact the editor responsible for this story: Shelley Smith at ssmith118@bloomberg.net
