AM2.jobs - Attractions Jobs & News
Attractions Management Magazine


CLICK HERE TO READ THE LATEST ISSUE ONLINE
 
POST YOUR JOB ONLINE
FREE SIGN UP
CONTACT US

Jobs . News . Features . Products . Magazine . Handbook . Blog  
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
Plan underway to transform Chicago's Pedway into tourist attraction
Officials in the city of Chicago are exploring a proposed plan to transform a network of underground tunnels into a tourist attraction, granting a non-profit permission to create more detailed plans for the project.
Heritage tourism worth £16.4bn to England’s economy – report
England’s heritage tourism has generated up to £16.4bn (US$22.2bn, €18.6bn) in visitor spending a year, directly employing 278,000 people and contributing £11.9bn (US$16.1bn, €13.5bn) gross added value to the economy.
National Football Museum names new chair and CEO with double appointment
England's National Football Museum has announced two senior appointments, with Ian Penrose named non-executive chair and Tim Desmond taking over as CEO.
Exclusive: Dubai on target to become Orlando 2.0, says Worlds of Adventure CEO
Dubai is still in the early stages but is definitely on track to achieve the status of ‘Orlando 2.0’ – that’s the opinion of IMG Worlds of Adventure CEO, Lennard Otto.
More news>
LATEST JOBS
Rides and Attractions Area Manager
Chessington World of Adventures
Salary: Competitive
Location: Chessington, United Kingdom
Entertainments Team Leader
Legoland Discovery Centre
Salary: Competitive
Location: Toronto, ON, Canada
Operations Manager
Legoland Discovery Centre
Salary: Competitive
Location: Toronto, ON, Canada
Engineering Systems Specialist
The Eye Brand
Salary: Competitive
Location: Orlando, FL, United States
Guest Experience Host - Education Team
Sea Life
Salary: Competitive
Location: Kansas City, MO, United States
Marketing Manager
Madame Tussauds
Salary: Competitive
Location: Hollywood, Los Angeles, CA, United States



RECRUITING NOW
Call the team
now to book
+44(0)1462 431385

COMPANY PROFILES
DJW
This year DJW celebrates 30 years in the industry, with David and Lynn Willrich having started the company from the AV department of the National Motor Museum in Beaulieu. [more...]
Latest Issue
CATALOGUE GALLERY
MORE CATALOGUES >

Attractions Management
Handbook available
online and in print >
 
 
ABOUT LEISURE MEDIA
LEISURE MEDIA MAGAZINES
LEISURE MEDIA HANDBOOKS
LEISURE MEDIA WEBSITES
LEISURE MEDIA PRODUCT SEARCH
 
ATTRACTIONS MANAGEMENT
AM2
ATTRACTIONS HANDBOOK
PRINT SUBSCRIPTIONS
FREE DIGITAL SUBSCRIPTIONS
ADVERTISE . CONTACT US

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

©Cybertrek 2017
AM2.jobs - Attractions Jobs & News
Attractions Management Magazine


CLICK HERE TO READ THE LATEST ISSUE ONLINE
 

Jobs . News . Products . Magazine  
Post your job online   Free sign up   Contact us
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
Plan underway to transform Chicago's Pedway into tourist attraction
Officials in the city of Chicago are exploring a proposed plan to transform a network of underground tunnels into a tourist attraction, granting a non-profit permission to create more detailed plans for the project.
Heritage tourism worth £16.4bn to England’s economy – report
England’s heritage tourism has generated up to £16.4bn (US$22.2bn, €18.6bn) in visitor spending a year, directly employing 278,000 people and contributing £11.9bn (US$16.1bn, €13.5bn) gross added value to the economy.
National Football Museum names new chair and CEO with double appointment
England's National Football Museum has announced two senior appointments, with Ian Penrose named non-executive chair and Tim Desmond taking over as CEO.
Exclusive: Dubai on target to become Orlando 2.0, says Worlds of Adventure CEO
Dubai is still in the early stages but is definitely on track to achieve the status of ‘Orlando 2.0’ – that’s the opinion of IMG Worlds of Adventure CEO, Lennard Otto.
More news>
LATEST JOBS
Rides and Attractions Area Manager
Chessington World of Adventures
Salary: Competitive
Location: Chessington, United Kingdom
Entertainments Team Leader
Legoland Discovery Centre
Salary: Competitive
Location: Toronto, ON, Canada
Operations Manager
Legoland Discovery Centre
Salary: Competitive
Location: Toronto, ON, Canada
Engineering Systems Specialist
The Eye Brand
Salary: Competitive
Location: Orlando, FL, United States
Guest Experience Host - Education Team
Sea Life
Salary: Competitive
Location: Kansas City, MO, United States
Marketing Manager
Madame Tussauds
Salary: Competitive
Location: Hollywood, Los Angeles, CA, United States



 
 
ADVERTISE . CONTACT US

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

©Cybertrek 2017

ABOUT LEISURE MEDIA
LEISURE MEDIA MAGAZINES
LEISURE MEDIA HANDBOOKS
LEISURE MEDIA WEBSITES
LEISURE MEDIA PRODUCT SEARCH
 
ATTRACTIONS MANAGEMENT
AM2
ATTRACTIONS HANDBOOK
PRINT SUBSCRIPTIONS
FREE DIGITAL SUBSCRIPTIONS

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 2017

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