Macau Co. plans $1.2 billion credit facility

By Sara Rosenberg

New York, June 1 - Macau Co. has entered into a commitment for a new $1.2 billion credit facility, according to a news release.

Deutsche Bank, Hong Kong branch and Morgan Stanley are the joint lead arrangers on the deal.

In addition, the company has entered into an engagement letter with the two banks for $500 million of additional debt financing.

Proceeds from the financings will be used to fund project costs associated with the design, development, construction and other pre-opening expenditure of the Macao Studio City project, and for other working capital and general corporate purposes.

Macau Co. owns a leasehold interest in the Cotai Site, on which the Macao Studio City project will be developed.

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