China/Hong Kong
Skadden, Arps, Slate, Meagher & Flom and Clifford Chance have advised on a $2.3 billion loan facility undertaken by Wynn Resorts (Macau) S.A. to refinance the design, construction and development of its new casino resort in the Cotai area of Macau. The new resort, which is estimated to cost up to $4 billion, will include a casino, a 2,000-room five-star hotel, shopping, restaurants and convention space. The secured loan facility comprises a $750 million fully funded senior secured term loan facility, a $1.55 billion senior secured term loan facility and an option to increase the total senior secured facilities by an additional $200 million. Skadden Hong Kong partner Alan Schiffman advised Wynn Resorts.The lenders, which include Morgan Stanley and JPMorgan Chase & Co., were advised by Clifford Chance partner Dauwood Malik in Hong Kong. [Read full story. ]
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