Travellers International Hotel Group Inc has confirmed that arrangements are being made to refinance the company’s $300 million bond facility which is maturing later this year, according to a Wednesday filing to the Philippine Stock Exchange.
The company was responding to a news report from Business World Online which quoted AGI president Kingson U. Sian saying that Travellers will refinance its bond “with a peso loan.”
“The Company confirms that in response to press queries after the Tuesday (March 29) listing ceremony of Megaworld’s bonds at the Philippine Dealing and Exchange Corp., the company’s president and chief executive officer Kingson U. Sian stated that arrangements are being made to fund the Company’s US$300 million bond maturing late this year with peso-denominated loan facilities,” said the company in a filing on Wednesday.
AstroPay is the pioneer payment solution for thousands of consumers in Latin America, Asia and Africa, who want to purchase online on international sites, that helps merchants access new markets through its main product, AstroPay Card.
Consolidation of the bases and advancement in adversity was the thrust of Macau Chief Executive’s policy address for 2021, though it gave little away when it came to the current pillar of the economy - the gaming industry.
Gaming suppliers, like all areas of the industry, have felt the pinch from the Covid-19 crisis, though their growing digital businesses have proved a bright spot and helped offset the impact of the crisis.
While nowhere in the world has escaped the economic fallout from the Covid-19 crisis, Macau has been hit harder than most, with forecasts for gross domestic product to shrink more than 50 percent this year.