Sri Lanka’s John Keells Holdings said it had wrapped up a US$395 million syndicated loan facility arranged by Standard Chartered Bank for integrated resort.
The project by Waterfront Properties (Pvt) Ltd is will have a hotel, shopping, office space, a conference facility, residential units. It was also planned to have gaming, but the new administration has said it will not give tax holidays to gaming.
In December 2014, JKH said it was looking to raise up to 445 million dollars through a syndicated loan. JKH said in a stock exchange filing Thursday that the 395 million facility was enough.