Genting Hong Kong Limited held signing ceremony for US$1.6 billion vessel financing facilities

HONG KONG - Genting Hong Kong Limited completed the ceremonial signing of vessel financing facilities in connection with the company’s two new mega cruise ships that are being constructed by Meyer Werft of Papenburg, Germany for delivery in the fourth quarter of 2016 and 2017, respectively. The two term loan facilities provide an aggregate financing of up to the US dollar equivalent of EUR1.2 billion (approximately US$1.6 billion at today’s exchange rate) and each has a term of 12 years from the delivery of the vessel. The financing is backed by export credit insurance issued by the German Federal Government.

“The two new cruise ships to be purpose-built for the Asian market will reinforce Star Cruises’ leading position in Asia-Pacific and our commitment to develop the region as an international cruise destination. We are pleased to have secured financing from our key banks that share our vision and we are grateful for their staunch support”, said Tan Sri Lim Kok Thay, Chairman and Chief Executive Officer of Genting Hong Kong. The signing ceremony was held at Genting Hong Kong’s headquarters.

The mandated lead arrangers for both vessel financing facilities are, in alphabetical order, Credit Agricole Corporate and Investment Bank, DNB Bank ASA (Singapore Branch) and KfW IPEX-Bank. KfW IPEX-Bank has structured the overall financing and also serves as the facility, Hermes and CIRR agent.

Sourced: TravelDailyNews