SJM seeks covenant waivers for HK$25bn loan

By Pan Yue
07 May 2020

Macau casino operator SJM Holdings is in talks with lenders for covenant waivers on a HK$25bn ($3.2bn) facility, as it faces delays over opening a new resort in Asia’s gambling hub.

The company is seeking banks’ consent to cancel two upcoming reviews of all the financial covenants — one scheduled for June and the other in September — on a HK$25bn loan sealed in 2016. The covenant review will return to normal in December, said a banker close to ...

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