The Star Entertainment has entered into a binding commitment letter with funds associated with WhiteHawk Capital Partners to refinance its existing debt, reinforcing the company’s financial position and ensuring operational stability.
The agreement provides for the full refinancing of the operator’s current debt facilities, alongside incremental liquidity to support ordinary business operations. The move follows an earlier announcement on 26 February 2026, and represents a significant step in the company’s broader financial restructuring efforts.
The refinancing carries a three-year term with a total value of US$390m. The annual interest rate will be based on the Term Secured Overnight Financing Rate (SOFR) plus a margin broadly consistent with the company’s recent borrowing arrangements. Quarterly amortisation is scheduled to commence from 31 March 2027.
Additional provisions include a minimum liquidity covenant of AU$50m during the first 12 months following financial close, rising to AU$75m between 12 and 18 months, and AU$100m thereafter. The agreement also incorporates customary financial covenants, reporting obligations and an interest reserve account funded with the first 12 months of interest.
Implementation of the refinancing remains subject to standard conditions, including regulatory approvals, execution of long-form finance documentation and the completion of the disposal of The Star’s interest in the Destination Brisbane Consortium.
The Star aims to complete the transaction by 15 May 2026, in order to satisfy the requirements of a waiver granted by its existing senior lenders in February 2026.
The refinancing is designed to bolster liquidity and provide financial flexibility for The Star