Financing and leasing for a project in a regulated industry
Background
Overview
Where we began
Our client, an international gaming and entertainment company, needed help to find a site for a project and then secure the legal rights for the site so that they could get regulatory approvals, secure financing for the construction of the project and negotiate a complicated lease with the landowner.
Our approach
There were a number of issues to address relating to the financing of the project and adding another credit facility to existing loans. An added complication was the inter-play between the lessor and the lender given that the land on which the Project was constructed was leased rather than owned.
The result
We worked with the client to help them secure the financing required to complete the construction of the project and negotiated a long-term lease that was structured to secure the Project financing. The ownership structure of the Project was a critical piece in increasing the chances of getting regulatory approval. The project was approved and construction is now well under way, on time and within budget, resulting in what we hope to be a profitable and long-standing business.