Genting Hong Kong granted $30 million loan and approval to resume Taiwan cruises
12/20/2021|4:52:04 PM|IAG

Genting Hong Kong has entered into a Bridge Facility Agreement with its majority owner, Chairman and CEO Lim Kok Thay, that will see it granted access to US$30 million in order to boost liquidity.

The Bridge Facility Agreement is linked to the restructuring of almost US$3.4 billion in debt that Genting HK defaulted on during the COVID-19 pandemic, with the company announcing in June that it had agreed a series of new loans and extensions to maturities with lenders on some of that debt.

Authorities in Taiwan have granted approval for Genting Hong Kong to resume domestic sailings via its Explorer Dream vessel.

According to the Taipei Times, Minister of Transportation and Communications Wang Kwo-tsai confirmed this week that the Central Epidemic Command Center had approved an application from Genting HK to restart cruises from January 2022.

However, island-hopping tours would not resume until the northern summer due to the monsoon season.

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