Australian entertainment group and casino operator Crown has completed major refinancing.
The company raised approximately AU$1.6bn from 10 banks in a number a bilateral facilities in order to repay its syndicated debt facility, which was due to expire in August, 2010.
The bilaterals provided approximately $1.1bn of Australian dollar denominated facilities and US$ 355 of US dollar denominated facilities with a maturity of between two and five years. Consequently, Crown’s next major refinancing is now not due until 2011.
