{"id":777040262,"date":"2026-04-09T07:08:02","date_gmt":"2026-04-09T10:08:02","guid":{"rendered":"https:\/\/focusgn.com\/asia-pacific\/?p=777040262"},"modified":"2026-04-21T12:43:57","modified_gmt":"2026-04-21T15:43:57","slug":"international-entertainment-settles-debts-after-hk1-6bn-digiplus-backed-notes-deal","status":"publish","type":"post","link":"https:\/\/focusgn.com\/asia-pacific\/international-entertainment-settles-debts-after-hk1-6bn-digiplus-backed-notes-deal","title":{"rendered":"International Entertainment settles debts after DigiPlus-backed notes deal"},"content":{"rendered":"\n

The firm said it has now redeemed all promissory notes and cleared its secured bank facilities.<\/p>\n\n\n\n\n\n\n\n

Hong Kong.- International Entertainment Corporation (IEC)<\/strong> has announced the full settlement of its outstanding debt obligations funded by capital raised through a convertible notes agreement with DigiPlus Interactive Corp. In a filing to the Hong Kong Stock Exchange<\/strong> on Wednesday<\/strong>, the firm said it had redeemed all promissory notes and cleared its secured bank facilities.<\/p>\n\n\n\n

The HK$1.6bn (US$205.1m) subscription notes arrangement is divided into two equal tranches of HK$800m (US$102.6m), with the first finalised in early March. Some HK$489.22m (US$62.7m) of the net proceeds from the first payment was allocated to settle promissory note obligations, while HK$392.39m (US$50.3m) was used to repay secured bank debt. <\/p>\n\n\n\n

Alongside debt repayment, the proceeds are expected to fund the redevelopment of New Coast Hotel Manila, an integrated hotel and casino complex operated under a licence from the Philippine Amusement and Gaming Corporation. IEC has indicated that it is working towards a July \u201cgrand reopening\u201d of the resort after completing ground-floor renovation works in January.<\/p>\n\n\n\n

The second tranche is expected to be completed within three months of the first issuance, subject to mutual agreement. Following full conversion at an initial rate of HK$1.00 per share, DigiPlus will have a 53.89 per cent stake in the enlarged share capital, giving it effective majority control of the group.<\/p>\n\n\n

\n\t\t\tSee also:<\/span><\/p>\n
\n\t\t\t\t\"\"<\/p>\n

\n\t\t\t\t\tSee also:<\/span> IEC completes first HK$800m tranche of DigiPlus convertible notes deal<\/a>\n\t\t\t\t<\/p>\n<\/p><\/div>\n<\/p><\/div>","protected":false},"excerpt":{"rendered":"

The firm said it has now redeemed all promissory notes and cleared its secured bank facilities.<\/p>\n","protected":false},"author":2395,"featured_media":777035787,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"is_press_release":false,"is_interview":false,"is_opinion":false,"focusai_summary":"International Entertainment Corporation (IEC) has fully settled its HK$1.6bn outstanding debt obligations, funded by a convertible notes agreement with DigiPlus Interactive Corp. This financial restructuring clears secured bank facilities and promissory notes, while also providing capital for the redevelopment of the New Coast Hotel Manila. Upon full conversion, DigiPlus will acquire a 53.89% majority stake in IEC.","focusai_entities":"International Entertainment Corporation, IEC, DigiPlus Interactive Corp., Philippine Amusement and Gaming Corporation, PAGCOR","focusai_location":"Hong Kong, Manila, Philippines","focusai_target_profile":"ceo_executive (1.0), regulator (0.7), compliance_legal (0.7), operator_casino (0.9), investor_analyst (1.0), supplier_vendor (0.7), journalist_researcher (0.9)","focusai_suggestions":[{"label":"DigiPlus Strategic Rationale","query":"What are DigiPlus Interactive Corp.'s strategic objectives and integration plans for IEC, particularly concerning the operational synergies with its existing gaming verticals in the Philippines?"},{"label":"New Coast Hotel Outlook","query":"What is the projected GGR and NGR impact of the New Coast Hotel Manila's redevelopment and grand reopening on IEC's financial performance, and what are the anticipated market share gains in the Philippine integrated resort sector?"}],"footnotes":""},"categories":[16338,163],"tags":[29,24370,23727],"class_list":["post-777040262","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-east-asia-news","category-finance-news","tag-casino","tag-digiplus","tag-international-entertainment-corp"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777040262","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\/2395"}],"replies":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/comments?post=777040262"}],"version-history":[{"count":3,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777040262\/revisions"}],"predecessor-version":[{"id":777040269,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777040262\/revisions\/777040269"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/777035787"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=777040262"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=777040262"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=777040262"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}