This builds on the liquidity boost from new share subscriptions in Dream Cruises by investment group Darting and Ocean World, a Genting HK subsidiary. Darting paid $59m cashfor its shares, while Ocean World offset nearly $248m in intercompany loans.
The approved restructuring terms are only slightly differentwhat was reported here in early May.
New money
Included isa new 240m subordinated secured loan facility. And a60m silent participationtakes effect via provision of a limited-recourse equity stake to the lender in exchange for contributing funding, together with 300m in new funding from Germany’s Economic Stabilization Fund (WSF) for MV Werften and/orsubsidiaries to fund the completion of Crystal Endeavor, delivered June 26, and G…
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