Star Entertainment Group Limited (AU:SGR) has released an update.
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Star Entertainment Group Limited has announced a new $200 million debt facility in two tranches, alongside covenant waivers for their existing $334 million facility until the end of 2024. The new facility, with a 13.50% annual coupon, will be available under certain conditions, including regulatory approvals and the raising of additional subordinated capital. This strategic financial move aims to maintain liquidity and meet long-term strategic goals, with the maturity date aligned with the existing term loan in December 2027.
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