Star Entertainment Group (ASX:SGR) received a debt financing proposal from funds associated with Oaktree Capital Management, which includes a commitment letter and term sheet outlining Oaktree's willingness to provide AU$650 million in two debt facilities with a five-year term, according to a Monday filing with the Australian bourse.
The proposal is subject to certain conditions but is not conditional on the company raising subordinated capital or any waiver or deferral of tax payable to state governments, the filing said.
The company board said it will review the proposal and continue to explore potential liquidity solutions, according to the filing.
Shares rose nearly 6% in morning trade Monday.
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