CruiseSale and leaseback agreement is a first with leasing companies

Genting Hong Kong seals deal with Chinese consortium

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Genting Dream will offer new destinations in South-east Asia.
Genting Dream will offer new destinations in South-east Asia. Photo Credit: Ian Jarrett

HONG KONG - Genting Hong Kong has raised US$900million through a sale and leaseback transaction of one of Dream Cruises’ cruise ships – the 2016-built, 150,000 gross tonne Genting Dream.

As well, we are looking forward to the highly anticipated debuts of Crystal Endeavor in August this year and of Global Dream in 2021.– Tan Sri Lim Kok Thay, chairman and chief executive of Genting Hong Kong

The deal, which allows a longer repayment period with a balloon payment at the end of 12 years, marks the first ever sale and leaseback transaction with a consortium of four Chinese leasing companies.

Part of the funds received was used for repayment of the outstanding balance of approximately US$502million in respect of the existing bank loan for Genting Dream.

Tan Sri Lim Kok Thay, chairman and chief executive of Genting Hong Kong, said with the completion of the transaction, the group would focus on launching new summer itineraries for Dream Cruises “which will showcase the best of South-east Asia with exciting new destinations including Christmas Island and Belitung in addition to popular destinations such as Palawan and Kota Kinabalu”.

“As well, we are looking forward to the highly anticipated debuts of Crystal Endeavor in August this year and of Global Dream in 2021.”

Genting Dream and World Dream earned high marks in the Berlitz Cruising and Cruise Ships 2020 guide, ranking 8th and 9th respectively in the “Large Resort Ship” category.

Explorer Dream, the latest addition to the Dream Cruises fleet, also made her debut in the Berlitz Cruising and Cruise Ships 2020 guide placing 17th in the “Mid-Sized Ship” category.

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