(Bloomberg) -- Star Entertainment Group Ltd. is preparing to raise A$750 million ($483 million) in equity as part of a broad capital restructuring, according to the Australian Financial Review’s Street Talk, which didn’t say how it obtained the information.
The equity raising, set to launch as early as Monday, will be accompanied by a A$450 million debt package backed by Westpac Banking Corp and Barclays Plc, according to the report on Sunday.
The deals are intended to eliminate Star’s existing loans, some of which are bank debt while the rest is US private placement bonds, AFR said.
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