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Hong Kong Disneyland is considering asking for an extension on the HK$3.3 billion in debt that falls due this month.
The Walt Disney Co and the Hong Kong government are continuing discussions regarding a capital realignment and expansion plan for the park, Hong Kong Disneyland vice president of public affairs Lo Bing-chung said yesterday. "As part of these discussions, the shareholders, as well as the management company, are exploring several options with regard to the commercial loan," Lo said.
One of the options under consideration is asking lenders for an extension on the HK$3.3 billion in financing that comes due this month, Lo said, confirming an earlier report in debt-industry newsletter Basis Point.
"This is one of the options that is under consideration to allow more time for both shareholders," Lo explained.
He added that Disney is prepared to invest further in the park.
A spokeswoman for the SAR government said a 30-day extension on the debt repayment is "to allow more time to tease out the best option" for Hongkong International Theme Parks and its shareholders.
HKITP, the joint-venture company that operates the park, is asking for an extension of at least one month on the HK$3.3 billion debt maturing this month, Basis Point reported yesterday.
The financing is comprised of a HK$2.3 billion term loan and a HK$1 billion revolving-credit facility.
Source: MickeyNews