Donaco refinances loan with Mega International

Australia-listed Donaco International, which operates casinos in Vietnam and Cambodia, says it has signed an accord with Mega International to refinance a loan facility with Mega Bank.

The group had originally taken out a loan for $100 million in 2015. It took a further $20 million in 2016 to repay a separate working capital facility. Over the past two years the company has repaid $63.4 million.

The new facility will be for $57 million with the maturity extended to three years from the date of the drawdown, which is expected this month.

Under the new facility 15 percent is repayable every six months, meaning the company needs to pay an $8.6 million instalment in February, less than the $20.8 million Donaco was scheduled to pay in January 2018 under the prior facility.

The interest rate is also lower at 6 percent over six-month LIBOR, compared with 6.75 percent previously.

Donaco operates the Aristo International resort in northern Vietnam and the Star Vegas casino in Cambodia.