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Crown Resorts advised on $450m development financing
Mills Oakley has advised Crown Resorts on the financing for Crown Sydney, with the “iconic” development on track to open progressively from year’s end.
Jerome Doraisamy
Firm: Mills Oakley (Crown Resorts).
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Deal: Crown Resorts has secured $450 million in development financing to support the continuation of construction of the Crown Sydney hotel resort.
Value: $450 million.
Area: Banking.
Key players: The Mills Oakley team was led by banking partner Tim Macmillan, who was supported by partner Graeme Gurney, associate Juandre Posthumus and graduate lawyer Mason Thomas.
Deal significance: The transaction was driven by the impact of COVID-19, the firm said in a statement, “but, with the 275-metre tower ‘topping out’ in May, the iconic development remains on track to open progressively from the end of the year”.
The financing was provided by three of Crown’s relationship banks, Mills added.
Mr Macmillan commented: “It was a great pleasure to work alongside the Crown team to help deliver this strategically important transaction.”
