17 Apr 2012
Pier 16 - Property Development Limited secures
HK$1,900 million and RMB400 million 5-Year Syndicated Loan Facilities
(Macau SAR, 17 April 2012) Pier 16 - Property Development Limited, the owner of Ponte 16 Resort, Macau, announced today the signing of HK$1,900 million and RMB400 million 5-Year Syndicated Loan Facilities (“Facilities”) with eleven leading financial institutions. Mandated Lead Arranger and Bookrunner of these Facilities is Industrial and Commercial Bank of China (Macau) Limited.
The proceeds of the Facilities will be used primarily to refinance existing credit facilities, to repay shareholders’ loans and to fund the construction of Phase III of the Ponte 16 Resort development. The Facilities are guaranteed by the Borrower’s shareholders, Sociedade de Jogos de Macau, S.A. and Success Universe Group Limited at the ratio of 51% and 49% respectively. The effective interest rate of the total Facilities is at HIBOR plus 3.0% per annum.
The Facilities received an enthusiastic response from the banking community. In addition to the Mandated Lead Arranger and Bookrunner, participating banks include The Bank of East Asia, Limited, Macau Branch, Industrial and Commercial Bank of China (Asia) Limited, and Tai Fung Bank Limited (all of which are Arrangers), Bank of China Limited, Macau Branch and Wing Lung Bank Limited, Macau Branch (both of which are Co-Arrangers), as well as China Construction Bank (Macau) Corporation Limited, Chong Hing Bank Limited, Macau Branch, Banco Weng Hang, S.A., Banco Comercial Português, S.A. Macau Branch and First Commercial Bank, Macau Branch (all of which are Managers).
Phase III of Ponte 16 Resort will be a riverside commercial complex with total floor area of approximately 40,000 square metres. In addition to shopping and dining facilities, the complex will encompass space for the expansion of gaming spaces and car parks. Its design will be consistent with the themes of Phase I and Phase II. The construction of Phase III is expected to be completed by 2014.
Present at the signing ceremony were Dr. Ambrose So, Chairman of Pier 16 - Property Development Limited, Mr. Sonny Yeung, CEO of Pier 16 - Property Development Limited, Dr. Hoffman Ma, Deputy CEO of Pier 16 - Property Development Limited, Mr. Patrick Cheng, Deputy CEO of Industrial and Commercial Bank of China (Macau) Limited, as well as representatives from all participating banks.
Commenting on the syndication, Dr. Ambrose So said, “We are delighted to see the positive response of the banking community to this loan syndication. We believe this reflects the success of the Ponte 16 Resort project and the excellent prospects for its future growth, as well as the confidence of the capital markets in participating with us in the growth of Macau.”
About Ponte 16 Resort, Macau:
Ponte 16 Resort, Macau is a joint venture between Sociedade de Jogos de Macau, S.A. (a subsidiary of the Hong Kong-listed SJM Holdings Limited - SEHK 0880) and Success Universe Group Limited (a Hong Kong listed company - SEHK 0487). Ponte 16 Resort is a world-class integrated casino-entertainment resort located at the Inner Harbour in Macau. Opened in 2008, Phase I and Phase II comprise a five-star luxury hotel Sofitel Macau at Ponte 16, a casino, restaurants, and Asia’s unique MJ Gallery at Ponte 16 (opened in 2010). Phase III will feature an entertainment and recreation complex housing a wide variety of retail shops, entertainment and gaming facilities.
For media enquiries:
Isabella Leung
Tel: (852) 3101-8175
Email: isabellal@ponte16.com.mo
