S$400m increase in investments in Resorts World at Sentosa

SINGAPORE: Genting International is injecting an additional S$400 million into the integrated resort at Sentosa.

Genting said the funds will come in part from a rights issue of 400 million new ordinary shares. This will be done through its wholly-owned subsidiary, Star Eagle Holdings Limited.

Resorts World at Sentosa is slated to open in early 2010.

Genting won the bid to build the S$6 billion integrated resort in 2006. It had earlier secured more than S$4.19 billion in syndicated funding to pay for the mega project.

The funding is a record for Genting and one of the largest syndicated credit deals in Singapore’s banking history. - CNA/vm

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