Star Entertainment announced it has secured a binding commitment for a $390 million refinancing facility provided by funds associated with private credit manager WhiteHawk Capital Partners. The company said the three-year facility is structured to fully refinance the group’s existing debt and to provide additional liquidity to support ordinary course operations.
According to the announcement, the refinancing is conditional on customary closing requirements. These include the execution of long-form finance documentation and receipt of any necessary regulatory approvals, among other conditions specified in the financing process. Star said it is aiming to complete the refinancing no later than May 15 so it can meet the timing requirements attached to a waiver from its existing senior lenders.
The company noted that the binding commitment follows an earlier development in late February when Star reached an in-principle agreement with WhiteHawk on a potential refinancing. That preliminary accord preceded the formal commitment now secured.
Star’s move to secure the binding commitment also ties directly to actions disclosed at its first-half results on February 27, when the company said it had obtained a waiver relating to financial compliance obligations under its loan facility agreement that had been due on December 31, 2025. The waiver included specific milestones: Star was required to deliver a refinancing commitment letter by March 31 and to execute a refinancing of the loan facility agreement by May 15 to avoid a default under the existing facility.
The company reiterated that the refinancing remains subject to the conditions customary for transactions of this nature and that it is working to satisfy the timetable set by the waiver granted by its senior lenders on February 27. No additional terms, pricing details or changes to existing lender arrangements were disclosed beyond the information about the binding commitment and the targeted completion date.