SJM confident of completing refinancing: Daisy Ho

Macau casino operator SJM Holdings Ltd’s chairman and executive director, Daisy Ho Chiu Fung (pictured), said on Thursday the company was currently “working through the final details” on the refinancing of syndicated banking facilities with lenders, in hope of completing the process
“as soon as possible”.

Her comment was in response to a question from GGRAsia on the sidelines of a corporate event that day, at the firm’s Cotai casino resort, Grand Lisboa Palace.

In late February, SJM Holdings had extended by one year, the maturity of its syndicated banking facilities, originally consisting of a HKD15 billion (US$1.91 billion at current exchange rates) term loan, and HKD10-billion revolving credit, with HKD13.3 billion of the aggregate amount being outstanding.

That was according to a May 3 filing of the group’s unaudited first-quarter results to the Hong Kong bourse. The company noted that it expected to complete a refinancing of those facilities within the second quarter.

“Our team members have been incessantly working together with all of the banks in the syndicate through the final details [of the refinancing arrangement], in hope of completing the matter as soon as possible,” said Ms Ho in her Thursday comments.

Source: https://www.ggrasia.com/sjm-confident-of-completing-refinancing-daisy-ho/