Kerzner International Completes $145 Million Debt Refinancing

By: Caribbean Journal Staff - March 27, 2013

Above: the Atlantis on Paradise Island

By the Caribbean Journal staff

Kerzner International has completed the refinancing of $145 million of the company’s debt, it announced this week.

The company, which operates properties including the One & Only Ocean Club and the Atlantis resort on Paradise Island, extended its debt maturity profile to five years with the deal.

“Our ability to tap into global and regional liquidity is a testament of the financial market’s confidence in Kerzner, its management team and the future prospects of the business,” said Alan Leibman, CEO of Kerzner International in a press release. “With substantially less debt and with access to additional cash, we can continue to focus on our growth plans to develop new experiences around the world.”

The company said the completion of the refinancing would allow it to continue focusing on its role as a management company; it will continue to operate the Atlantis, its One & Only resorts and its Mazagan resort in Moroco.

The company recently announced the opening of two new resorts: a One & Only in Montegenro, and a One & Only Sanya in China. Both are the company’s first properties on their respective continents.

“We are pleased with our partnership with Kerzner International and to make this transaction a success,” said Ashok Aram, CEO of Deutsche Bank, which was the lead arranger of the refinancing. “The transaction strengthens Kerzner’s financial structure and reflects investor’s confidence in the company and its senior management. The transaction underlines our commitment to support growth companies in the MENA region.”

Abu Dhabi Commercial Bank, Ahli United Bank, Emirates NBD and Doha Bank supported the transaction.

Popular Posts cape santa maria

The Best Caribbean Beach Resort You’ve Never Heard of 

There’s a boat just offshore called “Escape.”  It’s bobbing in some of the most brilliant, dynamic turquoise water I’ve ever seen, a few meters from a stretch of sand so bright and so white you have to squint to look […]

Marriott Is Opening Its New St Regis Resort In Aruba 

aruba st regis inside the restaurant with chairs

It was more than a decade ago that Marriott opened its first-ever Ritz-Carlton resort in the Dutch Caribbean: the Ritz-Carlton, Aruba, which at the time was the island’s first true five-star resort.  Fast forward to 2024, and Marriott is set […]

From All-Inclusive Resorts to Beaches, Travelers Are Falling in Love With Antigua and Barbuda

antigua barbuda frontier airlines the peninsula with sand

The plunge-pool villas at Hammock Cove. The historic streets of Nelson’s Dockyard. Pool days at Sheer Rocks. Unforgettable honeymoons. Vibrant meals of pepperpot and fungee. Beach bar hopping on the south coast. Endless serenity in Barbuda.  Travelers keep flocking to […]

Related Posts bahamas resort luxury four seasons

How to Save at the Four Seasons Resort in The Bahamas Right Now

The Versailles Gardens. James Bond’s favorite Bahamian bar. The extraordinary fare at Dune. The brilliant sands of Cabbage Beach.  It’s a full-fledged Caribbean legend: The Ocean Club, a Four Seasons Resort, the celebrated Paradise Island resort that’s always been a […]

New Luxury Real Estate Project Breaks Ground in Nassau 

nassau beach

A new beachfront luxury real estate project has broken ground in Nassau, Caribbean Journal Invest has learned.  The new Vilara Villas has launched construction in the Love Beach area of Nassau.  The project consists of a collection of six luxury […]

$25 Million Home Sells in Harbour Island, The Bahamas 

home harbour island

A $25 million listing in Harbour Island has been sold, Caribbean Journal Invest has learned.  The beachfront “Tickled Pink” home was sold in a deal handled by Corcoran’s Gavin Christie.  The home, perched above and with direct access to Pink […]


Sign up for Caribbean Journal's free newsletter for a daily dose of beaches, hotels, rum and the best Caribbean travel information on the net.

No. Thank You