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HONG KONG (MarketWatch) -- Hong Kong Disneyland is asking banks about refinancing options on a HK$3.2 billion loan, which the company took out in 2000 to help fund the construction of the Hong Kong theme park, reported the South China Morning Post Tuesday, citing unnamed market sources.
The new financing will replace the current loan, which has a step-up financing structure in which the interest rate increases periodically. The company hasn't decided whether the refinancing will be in the form of a bond, a loan, or other debt, the paper said.
The new financing will replace the current loan, which has a step-up financing structure in which the interest rate increases periodically. The company hasn't decided whether the refinancing will be in the form of a bond, a loan, or other debt, the paper said.
Hong Kong Disneyland weighing refinancing options for 3.2 bln hkd loan - report
24/10/2006 01:58 London Time | story 0125
HONG KONG (XFN-ASIA) - Hong Kong Disneyland is looking at refinancing options on a 3.2 bln hkd loan taken out in 2000 to partially fund construction of the theme park, the South China Morning Post reported, citing a source familiar with the situation.
The new debt will replace the current loan with the so-called "step-on" margin in which the interest rate goes up after every few years. The format of the deal, whether it is a bond, loan or other type of financing, has not been decided.
Disneyland did not set a deadline for bank proposals and could raise the size of the facility, according to the report.
The new debt will replace the current loan with the so-called "step-on" margin in which the interest rate goes up after every few years. The format of the deal, whether it is a bond, loan or other type of financing, has not been decided.
Disneyland did not set a deadline for bank proposals and could raise the size of the facility, according to the report.
perhaps they need money to fund construction for future attractions?
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