{"id":8557,"date":"2025-02-21T12:05:12","date_gmt":"2025-02-21T12:05:12","guid":{"rendered":"https:\/\/sbceurasia.com\/en\/?p=8557"},"modified":"2025-02-21T12:05:16","modified_gmt":"2025-02-21T12:05:16","slug":"oaktree-capital-management-ready-to-provide-loan-to-star-entertainment","status":"publish","type":"post","link":"https:\/\/sbceurasia.com\/en\/2025\/02\/21\/oaktree-capital-management-ready-to-provide-loan-to-star-entertainment\/","title":{"rendered":"\u200bOaktree Capital Management Ready to Provide Loan to Star Entertainment"},"content":{"rendered":"\n<p>The<strong> Star Entertainment Group<\/strong> has stated that it is considering a debt financing proposal from funds associated with <strong>Oaktree Capital Management<\/strong>.<\/p>\n\n\n\n<p>The Oaktree proposal includes a commitment letter and term sheet setting out the terms upon which the global asset management firm would be willing to provide <strong>AU$650m <\/strong>in two debt facilities with a five-year term.<\/p>\n\n\n\n<p>It is also subject to several conditions, including \u201ca comprehensive security package and intercreditor documentation which requires consents from <strong>New South Wales and Queensland Governments <\/strong>and regulators, completion of due diligence in relation to specified matters, that the existing <strong>SFA<\/strong> lenders enter a settlement and or refinancing agreement on terms satisfactory to Oaktree, the execution of long-form financing documentation and other conditions\u201d.<\/p>\n\n\n\n<p>The Star noted that the proposal is not conditional on the group \u201craising subordinated capital nor any waiver or deferral of tax payable to State Governments,\u201d stating that there is no certainty that the proposal will be progressed, that the conditions will be satisfied, or that it will be implemented.<\/p>\n\n\n\n<p>The company has also stipulated that additional funds will still be required for the period before the Oaktree proposal is implemented.<\/p>\n\n\n\n<p>The Star added that it continues to explore other liquidity options, noting: \u201cWhile discussions continue with respect to a range of different solutions, there is no certainty that any of these discussions or negotiations will result in one or more definitive arrangements that might materially increase the Group\u2019s liquidity position.<\/p>\n\n\n\n<p>\u201cIn the absence of one or more of those arrangements, there remains material uncertainty as to the Group\u2019s ability to continue as a going concern,\u201d the statement concluded.<\/p>\n\n\n\n<p>The proposal from Oaktree follows The Star confirming earlier this month that it had received several confidential, indicative and non-binding proposals from <strong>Chow Tai Fook Enterprises Limited (CTFE) and Far East Consortium International Limited (FEC) <\/strong>looking <a href=\"https:\/\/sbceurasia.com\/en\/2025\/02\/13\/chow-tai-fook-and-far-east-consortium-eyeing-50-stake-in-the-star-brisbane\/\">to acquire The Star\u2019s <strong>50% interest<\/strong><\/a> in its <strong>Destination Brisbane<\/strong> Joint Venture, along with other assets.<\/p>\n\n\n\n<p>The group noted that it had assessed the CTFE and FEC proposals and came to the conclusion that \u201cnone of the proposals have provided sufficient value for The Star\u201d.&nbsp;<\/p>\n\n\n\n<p>The company added that it continues to engage with the CTFE and FEC, but there is no certainty that a transaction will be concluded.<\/p>\n\n\n\n<p>The Star is currently scheduled to publish its half-year results on 28 February.<\/p>\n\n\n\n<p>Don&#8217;t forget to subscribe to our <a href=\"https:\/\/t.me\/sbceurasia\">Telegram channel<\/a>!<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Star Entertainment Group has stated that it is considering a debt financing proposal from funds associated with Oaktree Capital Management. The Oaktree proposal includes a commitment letter and term sheet setting out the terms upon which the global asset management firm would be willing to provide AU$650m in two debt facilities with a five-year [&hellip;]<\/p>\n","protected":false},"author":7,"featured_media":8558,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"tdm_status":"","tdm_grid_status":"","footnotes":""},"categories":[5,1],"tags":[11482,11484,11480,11485,11481,11601,9619],"class_list":["post-8557","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-gambling","category-news","tag-chow-tai-fook-enterprises-limited","tag-ctfe","tag-destination-brisbane","tag-far-east-consortium-international-limited","tag-fec","tag-oaktree-capital-management","tag-star-entertainment-group"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.1.1 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>\u200bOaktree Capital Management Ready to Provide Loan to Star Entertainment - 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