Southeast Asian casino operator Donaco International Limited has announced that it has completed the full repayment of a loan of AU $ 131 million (US $ 100 million) acquired in 2015 from its main lender, Mega International Commercial Bank Co Ltd, under an agreement it signed in July.
According to a document filed on Wednesday, a final installment of US $ 1.8 million was paid on December 30, 2021, with Donaco having previously drawn Australian $ 26.3 million (US $ 20 million) in 2016 and refinanced 75.0 million Australian dollars (57 million US dollars) in 2017 for a combined US amount. $ 120 million in loans.
“Donaco is happy to confirm that there is no longer a loan balance owed to its lender Mega Bank,” the company said, adding that it “continues to preserve a strong balance sheet and maintain careful cost control. while waiting for the COVID-19 pandemic to improve in Vietnam and Cambodia.
Donaco previously reached a deal with Mega Bank to repay its loan balance by the end of 2021, helped by an $ 8.2million shareholder loan from its CEO and CEO, Lee Bug Huy – aka Techatut Sukcharoenkraisri.
Mega Bank’s initial loan was part of Donaco’s financing arrangements for the acquisition of Star Vegas, located in Poipet, Cambodia, in 2015.
Donaco also operates the Aristo International Hotel in northern Vietnam.