Star Cruises to launch Hong Kong IPO

Having got its finances shipshape, Star Cruises is on course to raise $600 million-$800 million via a Hong Kong listing in the next 2 months.

Star Cruises has signed a $600 million, five-year loan facility with a syndicate of 16 banks and will pay interest on this of 100-150 basis points over six-month Libor depending on the company's interest cover, says Gerard Lim Ewe Keng, vice-president for corporate planning at Star Cruises. The facility, arranged by HSBC and Barclays Capital, refinances a $600 million bridging loan taken out to finance the $1.9 billion acquisition of Norwegian Cruise LinesNCL earlier this year.


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