Genting Hong Kong Raises USD 900 Mn to Refinance Genting Dream

Genting DreamImage Courtesy: Inselvideo

 Cruise operator Genting Hong Kong has raised USD 900 million through a sale and leaseback transaction of one of Dream Cruises’ ships – the 2016-built, 150,000 gross ton Genting Dream.

The sale and leaseback deal was closed with a consortium of four Chinese leasing companies, through their special purpose vehicles indirectly wholly-owned by Bank of Communications Financial Leasing Co., CMB Financial Leasing Co., CCB Financial Leasing Corporation Limited and China Development Bank Financial Leasing Co. DNB Markets acted as advisor to Genting Hong Kong.

The company said that a part of the funds received was used for repayment of the outstanding balance of approximately USD 502 million in respect of the existing bank loan for the Genting Dream.

“We are very appreciative of the consortium for supporting Genting Hong Kong in the refinancing of Genting Dream which allows a longer repayment period with a balloon payment at the end of 12 years,” said Tan Sri Lim Kok Thay, Chairman and Chief Executive of Genting Hong Kong.

“With the completion of this transaction, the group is now focusing on launching new summer itineraries for Dream Cruises which will showcase the best of Southeast Asia with exciting new destinations including Christmas Island and Belitung in addition to popular destinations such as Palawan and Kota Kinabalu. As well, we are looking forward to the highly anticipated debuts of Crystal Endeavor in August this year and of Global Dream in 2021.”

In just over three years of operation, Dream Cruises has grown its fleet to three ships: Genting Dream, World Dream and Explorer Dream.

Share this article

Follow World Maritime News

In Depth>

Events>

<< Mar 2020 >>
MTWTFSS
24 25 26 27 28 29 1
2 3 4 5 6 7 8
9 10 11 12 13 14 15
16 17 18 19 20 21 22
23 24 25 26 27 28 29
30 31 1 2 3 4 5

Seawork 2020

Seawork is Europe’s leading commercial marine and workboat exhibition, providing businesses the opportunity…

read more >

Belgian Offshore Days 2020

During this event, a conference will be held with focus on “Increasing value by data driven innovation…

read more >

World Future Ports Summit 2020

This event will bring together ports and maritime shipping professionals from global leading companies and authorities to discuss recent digital technologies…

read more >

Europort Romania

Europort Romania is the premier maritime networking event of the Black Sea and will connect maritime technology and service suppliers with high level professionals from Romania and surrounding shipbuilding markets.

More info

read more >