Star’s Survival Hopes Dim as Debt Refinancing Plan Collapses

Star Entertainment Group Ltd.’s hopes of survival took a blow with the collapse of a refinancing proposal that could have provided total debt capacity of as much as A$940 million ($591 million).

Several conditions tied to the Salter Brothers Capital proposal, which aimed to refinance all Star’s corporate debt, were unlikely to be satisfied “either at all, or in sufficient time to address the current liquidity needs of the company,” Star said in a statement Wednesday.