Mega Bank Facility Repaid
Sydney, Jan 5, 2022 AEST (ABN Newswire) - Donaco International Limited (ASX:DNA) is pleased to announce the settlement of the Loan Facility with its main lender Mega International Commercial Bank Co Ltd, known as Mega Bank. The Loan Facility was settled on 30 December 2021 as per schedule.
Donaco has fully repaid the initially borrowed amount of A$131.54m (equivalent to USD$100m) stipulated in 2015, re-drawn A$26.31m (equivalent to USD$20m) in 2016 and refinanced A$74.98m (equivalent to USD$57m) in 2017 (equivalent to the total of USD$120m borrowings), with the final instalment of USD$1.8m paid in December 2021. Donaco is pleased to confirm that there is no more outstanding loan balance owed to its lender Mega Bank.
The Company continues to preserve a robust balance sheet and maintain prudent cost control as it awaits for the COVID-19 pandemic to ameliorate in Vietnam and Cambodia.
About Donaco International Ltd
Donaco International Limited (ASX:DNA) operates leisure, entertainment and associated technology businesses across the Asia Pacific region.
Donaco's largest business is the Star Vegas Resort & Club, a successful casino and hotel complex in Poipet, Cambodia, on the border with Thailand. Star Vegas was established in 1999, and is the largest and highest quality of the Poipet casino hotels. The property has more than 100 gaming tables, more than 1400 slot machines, and 385 hotel rooms.
Donaco's flagship business is the Aristo International Hotel, a successful boutique casino in northern Vietnam, located on the border with Yunnan Province, China. Established in 2002, the property has recently been expanded to a brand new five star resort complex with 400 hotel rooms. Donaco is a pioneer casino operator in Vietnam, and owns a 95% interest in the business, in a joint venture with the Government of Vietnam.
Donaco International Ltd