Parq Vancouver Misses Debt Payment as Casino Seeks to Refinance

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 · 1. parq vancouver misses debt payment as casino seeks to refinance. luxury casino parq Vancouver’s parent company missed an interest payment on a second-lien loan as it struggles to refinance debt taken on to build one of the largest-ever private developments in British Columbia.

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 · The company that owns Parq Vancouver is in default after deferring on a May 2, 2019 interest payment deadline. company owners have deferred payment on one of its loans twice The Parq Vancouver, a luxury casino complex that opened to fanfare in 2017, is seeking to refinance its debt amid increasing financial pressure and missed debt payments.

When Parq Vancouver, a glimmering waterfront casino, opened amid much to-do in late. Now Parq’s in a race to refinance debt in order to make an interest payment this week on a second-lien loan,

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Parq Vancouver’s $18 million in operating income was completely wiped out by the interest payments on its debt. That interest amounts to around $30 million per quarter and ranges from 7.5% to 12%.

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 · Vancouver’s Parq casino looks to refinance amid debt pressure The company that owns Parq Vancouver, which opened in 2017, has deferred payment on a loan twice. Canada – British Columbia | May 4 |

 · Parq Vancouver Misses Debt Payment as Casino Seeks to Refinance Photographer: Darryl dyck/bloomberg luxury casino parq Vancouver’s parent company missed an interest payment on a second-lien loan as it struggles to refinance debt taken on to build one of the largest-ever private developments in British Columbia.