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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.

September 16, 2020 • By Jerome Doraisamy
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Tim Macmillan
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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.

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Mr Macmillan commented: “It was a great pleasure to work alongside the Crown team to help deliver this strategically important transaction.”

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Jerome Doraisamy

Jerome Doraisamy

Author

Jerome Doraisamy is the managing editor of professional services (including Lawyers Weekly, HR Leader, Accountants Daily, and Accounting Times). He is also the author of The Wellness Doctrines book series, an admitted solicitor in New South Wales, and a board director of the Minds Count Foundation.

You can email Jerome at: This email address is being protected from spambots. You need JavaScript enabled to view it. 

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