Norton Rose has advised MGM China Holdings Ltd's Hong Kong dollar-denominated senior credit facilities agreement worth $2 billion. The extended facilities include a $550 million equivalent term loan and a $1.45 billion equivalent revolving credit facility.
Banking partner Peter Haslam led the Norton Rose team in Hong Kong, assisted by corporate partner Jon Perry.
Allen & Overy, led by Hong Kong-based banking partner Roger Lui, advised the lenders in the transaction, including Bank of China, Industrial and Commercial Bank of China, Bank of America, Crédit Agricole Corporate and Investment Bank, Deutsche Bank, RBS, Sumitomo Mitsui Banking Corporation, Banco Nacional Ultramarino, JPMorgan Chase Bank, UBS, BNP Paribas, Barclays Bank, The Bank of Nova Scotia, Wing Lung Bank, Banco Comercial de Macau, Morgan Stanley Senior Funding Inc and Tai Fung Bank.
"We are delighted to have worked with the banks and MGM again on this refinancing, as the gaming industry in Macau matures and the financing structures for gaming assets continue to evolve,” said Lui in a statement.
MGM China Holdings owns the MGM Macau resort and casino, and is currently developing a gaming resort in Cotai.
Kanishk Verghese is North Asia journalist at ALB. Follow us on Twitter: @ALB_Magazine.
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