SJM in discussions over construction loan with HK$25 billion

Hong Kong listed SJM Holdings is in discussions with various lenders over a construction loan that could be worth HK$25 billion (US$ 3.2 billion), according to Reuters.

The casino operator in Macau started building its Lisboa Palace in Cotai in Feb. 2014, with construction cost estimated to reach HK$ 30 billion and to be completed in 2017.

Located on 70,468 square metres of land, Lisboa Palace will comprise a full range of non-gaming facilities, including around 2,000 hotel rooms housed in The Lisboa Palace Hotel, the Palazzo Versace Macau and another fashion-branded luxury hotel. Lisboa Palace, will provide up to 700 gaming tables and over 1,200 slot machines across a gaming floor area of approximately 27,000 square metres.

The loan may consist of four-year and six-year terms, but details are not yet finalized.