{"id":12189,"date":"2020-11-29T17:27:17","date_gmt":"2020-11-29T17:27:17","guid":{"rendered":"https:\/\/focusgn.com\/asia-pacific\/?p=12189"},"modified":"2026-04-23T23:40:03","modified_gmt":"2026-04-24T02:40:03","slug":"lotte-tour-completes-jeju-tower-financing","status":"publish","type":"post","link":"https:\/\/focusgn.com\/asia-pacific\/lotte-tour-completes-jeju-tower-financing","title":{"rendered":"Lotte Tour completes Jeju Tower financing"},"content":{"rendered":"\n<p class=\"wp-block-paragraph\">The developer has raised US$723m to complete the US$1.42bn project on Jeju Island due to be inaugurated on December 18.<\/p>\n\n\n\n<!--more-->\n\n\n\n<p class=\"wp-block-paragraph\">South Korea.- Lotte Tour Development has raised KRW800bn (US$$723m) to complete the financing of its Jeju Dream Tower project.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">It raised the funds through a mortgage and convertible bonds. The mortgage loans from Shinhan Investment Corp and Korea Investment &amp; Securities Co. will provide KRW700bn. The remaining KRW100bn in four-year unsecured private bonds comes from CCG Investment Asia, an investment arm of Singapore\u2019s CGS-CIMB Securities.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The bond carries an option to be converted to 5,847,953 common shares, or 7.8 per cent of the total outstanding issues, with a fixed price of KRW17,100 (US$15.47) per share.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Lotte Tour will spend KRW200bn repaying loans, and KRW350bn on settling a debt with its co-developer, China\u2019s Greenland Group.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The developer intends to officially inaugurate Jeju Dream Tower <strong><em><a rel=\"noreferrer noopener\" href=\"https:\/\/focusgn.com\/asia-pacific\/jeju-dream-tower-to-open-on-december-18\" target=\"_blank\">on December 18<\/a><\/em><\/strong>. <\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The 38-storey tower cost US$1.42bn. Aside from a casino, it will include a 1,600-room Grand Hyatt hotel, 14 restaurants and bars, a shopping mall, an outdoor pool, two spas and a top-floor sky deck lounge. <\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The hotel is currently taking reservations. The Dream Tower foreigner-only casino is expected to open with about 140 gaming tables, 190 slot machines, and 70 electronic gaming machines.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Lotte Tour has <strong><em><a rel=\"noreferrer noopener\" href=\"https:\/\/focusgn.com\/asia-pacific\/lotte-tour-to-move-headquarters-to-jeju\" target=\"_blank\">moved its headquarters<\/a><\/em><\/strong> from Seoul to the property on Jeju island.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The developer has raised US$723m to complete the US$1.42bn project on Jeju Island due to be inaugurated on December 18.<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"is_press_release":false,"is_interview":false,"is_opinion":false,"focusai_summary":"Lotte Tour Development has secured KRW800bn (US$723m) through mortgage loans and convertible bonds to finalize the US$1.42bn Jeju Dream Tower integrated resort project. This financing facilitates debt settlement and project completion, with the foreigner-only casino and Grand Hyatt hotel scheduled for inauguration on December 18 in South Korea.","focusai_entities":"Lotte Tour Development, Shinhan Investment Corp, Korea Investment & Securities Co., CCG Investment Asia, CGS-CIMB Securities, Greenland Group, Grand Hyatt","focusai_location":"South Korea, Jeju Island, Seoul, Singapore","focusai_target_profile":"ceo_executive (0.9), regulator (0.7), compliance_legal (0.7), operator_casino (0.9), payments_fraud_aml (0.7), investor_analyst (1.0), supplier_vendor (0.8), journalist_researcher (0.9)","focusai_suggestions":[{"label":"Financing Structure Impact","query":"How will the convertible bond issuance and associated equity dilution impact Lotte Tour Development's capital structure and future shareholder value post-inauguration?"},{"label":"Jeju Market Dynamics","query":"What are the projected GGR and NGR contributions from the Jeju Dream Tower's foreigner-only casino, and how will this new capacity affect the competitive landscape on Jeju Island?"}],"footnotes":""},"categories":[16338,163],"tags":[23766,23851,152],"class_list":["post-12189","post","type-post","status-publish","format-standard","hentry","category-east-asia-news","category-finance-news","tag-jeju-island","tag-lotte-tour-development","tag-south-korea"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/12189","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/comments?post=12189"}],"version-history":[{"count":2,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/12189\/revisions"}],"predecessor-version":[{"id":12210,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/12189\/revisions\/12210"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=12189"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=12189"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=12189"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}