Cambodia’s gaming operator NagaCorp will receive up to an $80 million loan at 8 percent annual interest from the Chen family-controlled trust to meet upcoming financial commitments associated with senior notes due next year.
According to the voluntary announcement, the Hong Kong-listed company notes that ‘no guarantee or security will be provided by the group for the loan.’
The lender is ChenLipKeong Capital Ltd, a privately held company registered in the Cayman Islands. It is entirely owned by The Sakai Trust, a family trust established by Chen Lip Keong as the settlor, with the purpose of benefiting himself and his family.
