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
Google brings back Glass tech with focus on improving job productivity
Google’s Glass smart wear technology has been resurrected with job productivity in mind, two years on from the company scrapping its original consumer model.
Freeman expands sports and entertainment reach with acquisition of BaAM
Brand experience provider Freeman has announced the acquisition of creative production company BaAM, expanding its business into the sports and entertainment markets.
Second buyer joins Wanda deal as group restructures multi-billion theme park and hotel sale
Following a shock move by Wanda to first sell off the majority of its theme park and hotel portfolio and then loan its purchaser billions of dollars to finance the deal, the landmark property deal has taken another twist, with the addition of a second buyer to the sale.
Saudi Arabia government grants US$2.6bn to tourism projects
Saudi Arabia’s government has allocated SAR9.9bn (US$2.64bn, €2.29bn, £2.02bn) to develop and rebuild the country’s tourism projects in its attempt to turn it into a world- class tourism destination.
More news>
LATEST JOBS
Programmes and Events National Manager
The Wildfowl and Wetlands Trust
Salary: £22,680 to £28,350 pa
Location: Slimbridge, United Kingdom
Forest Centre Manager
Forestry Commission
Salary: £29,401 - £32,486
Location: Wendover, United Kingdom
Creative Media Assistant
Merlin Entertainments Group
Salary: Competitive
Location: London, United Kingdom
Technical Manager
The Dungeons
Salary: Competitive
Location: Edinburgh, United Kingdom
Head of PR and Media Relations
Alton Towers Theme Park
Salary: Competitive
Location: Staffordshire, United Kingdom
Trade Sales Coordinator
Legoland Discovery Centre
Salary: Competitive
Location: Kansas City, MO, United States



RECRUITING NOW

COMPANY PROFILES
SimEx-Iwerks Entertainment
SimEx Inc. is the parent company of SimEx-Iwerks Entertainment. Our main offices are located in Toronto, Los Angeles and Baltimore. [more...]
Latest Issue
FEATURED SUPPLIER

Consumer Expectations: The Driving Force Behind Digital in Leisure

The UK's leisure sector is poised for a year of heightened activity as the weakness of the pound and the uncertainty of Brexit prompts Britons to spend more time and money on UK shores.

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
Google brings back Glass tech with focus on improving job productivity
Google’s Glass smart wear technology has been resurrected with job productivity in mind, two years on from the company scrapping its original consumer model.
Freeman expands sports and entertainment reach with acquisition of BaAM
Brand experience provider Freeman has announced the acquisition of creative production company BaAM, expanding its business into the sports and entertainment markets.
Second buyer joins Wanda deal as group restructures multi-billion theme park and hotel sale
Following a shock move by Wanda to first sell off the majority of its theme park and hotel portfolio and then loan its purchaser billions of dollars to finance the deal, the landmark property deal has taken another twist, with the addition of a second buyer to the sale.
Saudi Arabia government grants US$2.6bn to tourism projects
Saudi Arabia’s government has allocated SAR9.9bn (US$2.64bn, €2.29bn, £2.02bn) to develop and rebuild the country’s tourism projects in its attempt to turn it into a world- class tourism destination.
More news>
LATEST JOBS
Programmes and Events National Manager
The Wildfowl and Wetlands Trust
Salary: £22,680 to £28,350 pa
Location: Slimbridge, United Kingdom
Forest Centre Manager
Forestry Commission
Salary: £29,401 - £32,486
Location: Wendover, United Kingdom
Creative Media Assistant
Merlin Entertainments Group
Salary: Competitive
Location: London, United Kingdom
Technical Manager
The Dungeons
Salary: Competitive
Location: Edinburgh, United Kingdom
Head of PR and Media Relations
Alton Towers Theme Park
Salary: Competitive
Location: Staffordshire, United Kingdom
Trade Sales Coordinator
Legoland Discovery Centre
Salary: Competitive
Location: Kansas City, MO, 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