Genting Hong Kong has raised $900 mill through a sale and leaseback transaction of the 2016 built, 150,000 gt ‘Genting Dream’.
This deal was closed with a consortium of four Chinese leasing companies, through their special purpose vehicles indirectly wholly-owned by Bank of Communications Financial Leasing, CMB Financial Leasing, CCB Financial Leasing Corp and China Development Bank Financial Leasing.
DNB Markets acted as advisor to Genting Hong Kong.
Part of the funds received was used for repayment of the outstanding balance of about $502 mill in respect of ‘Genting Dream’s existing bank loan.
“We are very appreciative of the consortium for supporting Genting Hong Kong in the refinancing of ‘Genting Dream’, which allows a longer repayment period with a balloon payment at the end of 12 years,” said Tan Sri Lim Kok Thay, Chairman and CEO Genting Hong Kong.
“With the completion of this transaction, the group is now focusing on launching new summer itineraries for Dream Cruises which will showcase the best of Southeast Asia with exciting new destinations including Christmas Island and Belitung in addition to popular destinations such as Palawan and Kota Kinabalu.
“As well, we are looking forward to the highly anticipated debuts of ‘Crystal Endeavor’ in August this year and of ‘Global Dream’ in 2021,” he concluded.