Melco Crown amends senior facilities agreement

Melco Crown announced on Friday that it had entered into a seventh amendment of its senior facilities agreement with a syndicate of banks. The changed facility will provide US$1,750 million (MOP14 billion) in senior facilities, which consist of a US$500 million (MOP4 billion) term loan facility for a term of 6 years and a US$1,000 million (MOP8 billion) revolving credit facility, which can be increased by US$250 million (MOP2 billion). The amended facility will be, as the original agreement established, secured by assets of the company’s City of Dreams and Altira.