Millennium & Copthorne Hotels New Zealand Limited announced that its multi option facility (MOF) with the Hong Kong & Shanghai Banking Corporation (HSBC) has been renewed for a three-year term to January 2027. The MOF comprises a revolving credit facility of up to NZD 115 million and an overdraft facility of up to NZD 5 million. The bank facilities are secured over hotel properties with Copthorne Hotel Queenstown Lakefront being added as security in addition to Millennium Hotel Queenstown and Rotorua.

Only minor amendments were made to the expiring terms and covenants so as to reflect current market requirements.