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NEWS
Wanda lending Sunac US$4.3bn to finance theme park and hotel purchase
POSTED 13 Jul 2017 . BY Tom Anstey
Following a huge CN¥63.18bn (US$9.3bn, €8.15bn, £7.22bn) property deal in a sell-off of Wanda’s tourism assets last week, it has now emerged that the company is actually part-financing its own sale, lending CN¥29.6bn (US$4.3bn, €3.76bn, £3.32bn) to Sunac China Holdings – the property developer taking control of Wanda’s theme park and hotel portfolio.

According to The Wall Street Journal, Wanda is helping Sunac to finance nearly half of the deal, with the three-year loan making use of Wanda’s higher credit rating, reducing final costs to Sunac by an estimated CN¥678m (US$100m, €87.6m, £77.3m).

“[Wanda] shall procure for a loan in the total amount of CN¥29.6bn to be advanced to [Sunac] through [a] designated bank with a term of three years at the bank’s three-year benchmark interest rate,” said the filing.

The Wanda sale has been carried out to facilitate a reduction of company debt as it prepares for a mainland listing after delisting from Hong Kong last year, but the loan deal means its debt has not been cut as significantly as previously thought.

Wanda's heavy investment in entertainment, tourism and financial ventures has attracted the attention of Chinese regulators, who last month ordered lenders to assess exposures to overseas deals by four companies, including Wanda, HNA Group, Anbang Insurance and Fosun.

The deal includes 13 of Wanda’s cultural tourism projects, mainly comprising theme parks and leisure complexes, as well as 76 hotels, which have also been acquired by the Tianjin-based Sunac. The Wanda City deal is worth CN¥29.58bn (US$4.35bn, €3.81bn, £3.38bn), while the hotels acquisition is worth CN¥33.6bn (US$4.94bn, €4.33bn, £3.84bn).
RELATED STORIES
Wanda 'wolf pack' dwindles following US$9.3bn property deal


After spending a number of years rapidly developing its tourism assets across China in an attempt to become the world’s largest tourism entity, Wanda has taken a step back by selling 91 per cent of its physical assets in a deal worth CN¥63.18bn (US$9.3bn, €8.15bn, £7.22bn).
Wanda recruits Premier Rides to create 'world-first' attraction


Wanda has recruited Premier Rides to create “one of the most cutting-edge attractions ever to be introduced to the theme park industry” – a first-of-its-kind creation representing the company’s most significant investment to date on a single attraction.
Wanda expanding tourism empire with US$30bn investment


Wanda has announced two US$15bn (€14.2bn, £12bn) development projects in China, signalling chair Wang Jianlin’s continued efforts to make Wanda the world’s largest tourism entity by 2020.
Wanda hires former Hong Kong Disneyland head to run theme park division


As Disney and Wanda’s public war for dominance across China continues to rage on, Wanda chair Wang Jianlin has reportedly hired former Disney executive Andrew Kam to lead its charge into the theme park sector.
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Rem Koolhaas and OMA’s plans to renovate the largest museum building in Russia have been unveiled.
Thorpe Park announces plans for world first Walking Dead rollercoaster
After bringing global IP The Walking Dead to its popular Fright Night events last October, Thorpe Park has upped the ante yet again, utilising the popular brand as part of a world-first rollercoaster currently under development at the British theme park and resort.
Wisconsin Historical Museum plans US$120m expansion
The Wisconsin Historical Museum is eyeing a US$120m (€97m, £86m) expansion of its existing premises, after launching a US$50m (€41m, £36m) fundraising campaign to realise its vision.
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NEWS
Wanda lending Sunac US$4.3bn to finance theme park and hotel purchase
POSTED 13 Jul 2017 . BY Tom Anstey
Following a huge CN¥63.18bn (US$9.3bn, €8.15bn, £7.22bn) property deal in a sell-off of Wanda’s tourism assets last week, it has now emerged that the company is actually part-financing its own sale, lending CN¥29.6bn (US$4.3bn, €3.76bn, £3.32bn) to Sunac China Holdings – the property developer taking control of Wanda’s theme park and hotel portfolio.

According to The Wall Street Journal, Wanda is helping Sunac to finance nearly half of the deal, with the three-year loan making use of Wanda’s higher credit rating, reducing final costs to Sunac by an estimated CN¥678m (US$100m, €87.6m, £77.3m).

“[Wanda] shall procure for a loan in the total amount of CN¥29.6bn to be advanced to [Sunac] through [a] designated bank with a term of three years at the bank’s three-year benchmark interest rate,” said the filing.

The Wanda sale has been carried out to facilitate a reduction of company debt as it prepares for a mainland listing after delisting from Hong Kong last year, but the loan deal means its debt has not been cut as significantly as previously thought.

Wanda's heavy investment in entertainment, tourism and financial ventures has attracted the attention of Chinese regulators, who last month ordered lenders to assess exposures to overseas deals by four companies, including Wanda, HNA Group, Anbang Insurance and Fosun.

The deal includes 13 of Wanda’s cultural tourism projects, mainly comprising theme parks and leisure complexes, as well as 76 hotels, which have also been acquired by the Tianjin-based Sunac. The Wanda City deal is worth CN¥29.58bn (US$4.35bn, €3.81bn, £3.38bn), while the hotels acquisition is worth CN¥33.6bn (US$4.94bn, €4.33bn, £3.84bn).
RELATED STORIES
Wanda 'wolf pack' dwindles following US$9.3bn property deal


After spending a number of years rapidly developing its tourism assets across China in an attempt to become the world’s largest tourism entity, Wanda has taken a step back by selling 91 per cent of its physical assets in a deal worth CN¥63.18bn (US$9.3bn, €8.15bn, £7.22bn).
Wanda recruits Premier Rides to create 'world-first' attraction


Wanda has recruited Premier Rides to create “one of the most cutting-edge attractions ever to be introduced to the theme park industry” – a first-of-its-kind creation representing the company’s most significant investment to date on a single attraction.
Wanda expanding tourism empire with US$30bn investment


Wanda has announced two US$15bn (€14.2bn, £12bn) development projects in China, signalling chair Wang Jianlin’s continued efforts to make Wanda the world’s largest tourism entity by 2020.
Wanda hires former Hong Kong Disneyland head to run theme park division


As Disney and Wanda’s public war for dominance across China continues to rage on, Wanda chair Wang Jianlin has reportedly hired former Disney executive Andrew Kam to lead its charge into the theme park sector.
MORE NEWS
Angry Birds World set to land in Qatar mall
Location-based entertainment company Trimoo is bringing an Angry Birds World theme park to a shopping mall in Qatar.
Rem Koolhaas and OMA reveal renovation plans for Russia's largest museum
Rem Koolhaas and OMA’s plans to renovate the largest museum building in Russia have been unveiled.
Thorpe Park announces plans for world first Walking Dead rollercoaster
After bringing global IP The Walking Dead to its popular Fright Night events last October, Thorpe Park has upped the ante yet again, utilising the popular brand as part of a world-first rollercoaster currently under development at the British theme park and resort.
Wisconsin Historical Museum plans US$120m expansion
The Wisconsin Historical Museum is eyeing a US$120m (€97m, £86m) expansion of its existing premises, after launching a US$50m (€41m, £36m) fundraising campaign to realise its vision.
More news>
LATEST JOBS
Activity Instructor
Girlguiding UK
Salary: Competitive
Location: London, UK
Head Lifeguard/ Duty Officer
Brean Splash
Salary: Hourly rate up to £8.50 per hour - 44 hours per week
Location: Somerset, UK
Pool Manager
Brean Splash
Salary: £21,000 - £26,000 per annum
Location: Somerset, UK
Tour Operations Manager
The Football Association
Salary: Competitive Salary
Location: Wembley, UK
Tour Operations Executive
The Football Association
Salary: Competitive Salary
Location: Wembley, UK
Theme Park Resort Duty Manager - Operations
Gulliver's Theme Park
Salary: Competitive
Location: Matlock Bath, Matlock, UK



 
 
ADVERTISE . CONTACT US

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Hitchin, Hertfordshire SG5 1DJ Tel: +44 (0)1462 431385

©Cybertrek 2018

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NEWS
Wanda lending Sunac US$4.3bn to finance theme park and hotel purchase
POSTED 13 Jul 2017 . BY Tom Anstey
Following a huge CN¥63.18bn (US$9.3bn, €8.15bn, £7.22bn) property deal in a sell-off of Wanda’s tourism assets last week, it has now emerged that the company is actually part-financing its own sale, lending CN¥29.6bn (US$4.3bn, €3.76bn, £3.32bn) to Sunac China Holdings – the property developer taking control of Wanda’s theme park and hotel portfolio.

According to The Wall Street Journal, Wanda is helping Sunac to finance nearly half of the deal, with the three-year loan making use of Wanda’s higher credit rating, reducing final costs to Sunac by an estimated CN¥678m (US$100m, €87.6m, £77.3m).

“[Wanda] shall procure for a loan in the total amount of CN¥29.6bn to be advanced to [Sunac] through [a] designated bank with a term of three years at the bank’s three-year benchmark interest rate,” said the filing.

The Wanda sale has been carried out to facilitate a reduction of company debt as it prepares for a mainland listing after delisting from Hong Kong last year, but the loan deal means its debt has not been cut as significantly as previously thought.

Wanda's heavy investment in entertainment, tourism and financial ventures has attracted the attention of Chinese regulators, who last month ordered lenders to assess exposures to overseas deals by four companies, including Wanda, HNA Group, Anbang Insurance and Fosun.

The deal includes 13 of Wanda’s cultural tourism projects, mainly comprising theme parks and leisure complexes, as well as 76 hotels, which have also been acquired by the Tianjin-based Sunac. The Wanda City deal is worth CN¥29.58bn (US$4.35bn, €3.81bn, £3.38bn), while the hotels acquisition is worth CN¥33.6bn (US$4.94bn, €4.33bn, £3.84bn).
RELATED STORIES
Wanda 'wolf pack' dwindles following US$9.3bn property deal


After spending a number of years rapidly developing its tourism assets across China in an attempt to become the world’s largest tourism entity, Wanda has taken a step back by selling 91 per cent of its physical assets in a deal worth CN¥63.18bn (US$9.3bn, €8.15bn, £7.22bn).
Wanda recruits Premier Rides to create 'world-first' attraction


Wanda has recruited Premier Rides to create “one of the most cutting-edge attractions ever to be introduced to the theme park industry” – a first-of-its-kind creation representing the company’s most significant investment to date on a single attraction.
Wanda expanding tourism empire with US$30bn investment


Wanda has announced two US$15bn (€14.2bn, £12bn) development projects in China, signalling chair Wang Jianlin’s continued efforts to make Wanda the world’s largest tourism entity by 2020.
Wanda hires former Hong Kong Disneyland head to run theme park division


As Disney and Wanda’s public war for dominance across China continues to rage on, Wanda chair Wang Jianlin has reportedly hired former Disney executive Andrew Kam to lead its charge into the theme park sector.
 


ADVERTISE . CONTACT US

Leisure Media, Portmill House, Portmill Lane,
Hitchin, Hertfordshire SG5 1DJ Tel: +44 (0)1462 431385

©Cybertrek 2018

ABOUT LEISURE MEDIA
LEISURE MEDIA MAGAZINES
LEISURE MEDIA HANDBOOKS
LEISURE MEDIA WEBSITES
LEISURE MEDIA PRODUCT SEARCH
PRINT SUBSCRIPTIONS
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