6-K 1 sihl6k-20010425.htm SIHL PRESS RELEASE 4/25/01 CLOSING OF RESORTS SALE Sun International Press Release dated 4/25/01

FORM 6-K

SECURITIES AND EXCHANGE COMMISSION

Washington, DC 20549

REPORT OF FOREIGN ISSUER PURSUANT TO RULE 13a-16 or
15d-16 under the securities exchange act of 1934


For the month of April 2001

SUN INTERNATIONAL HOTELS LIMITED
(Translation of registrant's name into English)

Coral Towers, Paradise Island, The Bahamas
(address of principal executive offices)

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.
Form 20-F               X                                 Form 40-F
                  --------------                                           --------------
Indicate by check mark whether the registrant by furnishing the information contained in this Form is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.
Yes                                                       No                     X
                  --------------                                           --------------

If “yes” is marked, indicate below this file number assigned to the registrant in connection with Rule 12g-3-2(b): N/A

Page 1 of 4
Exhibit Index is on Page 3




SIGNATURES



Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

Date: April 25, 2001
                                    SUN INTERNATIONAL HOTELS LIMITED





                                    By:           /s/Charles D. Adamo
                                                  -------------------
                                    Name:         Charles D. Adamo
                                    Title:        Executive Vice President
                                                  Corporate Development and General Counsel






EXHIBIT LIST

Exhibit           Description                                 Page No.
-------           -----------                                 --------

1.                Press Release dated 4/25/01
                  Closing Of Resorts Sale                        4




Sun Logo

Sun International

FROM:

Sun International

 

The Bahamas

 

Contact: John Allison

 

Tel: 1.242.363.6016

FOR IMMEDIATE RELEASE

SUN INTERNATIONAL ANNOUNCES

CLOSING OF RESORTS SALE

PARADISE ISLAND, The Bahamas April 25,2001 -- Sun International Hotels Limited (NYSE:SIH) today announced that the sale of the Resorts Casino Hotel to an affiliate of Colony Capital LLC has been completed. At the Closing, the Company received approximately $127 million in cash and $17.5 million of Subordinated Notes. The Subordinated Notes have a maturity of seven years and bear interest at 12.5% per annum. The interest is payable 50% in cash and 50% in additional Subordinated Notes. The $127 million in cash was used to permanently reduce debt under the Company’s Bank Credit Facility. As part of the purchase agreement, Colony has an option to acquire additional real estate adjacent to the Resorts Casino Hotel for $40 million.

Sun International Hotels Limited is an international resort and gaming company incorporated in The Bahamas that develops, operates and manages premier resort and casino properties.

Certain statements and information included in this release constitute “forward looking statements” within the meaning of the Federal Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance, or achievements of the Company to be materially different from any future results, performance, or achievements expressed or implied in such forward looking statements. Additional discussion of factors that could cause actual results to differ materially from management’s projections, forecasts, estimates and expectations is contained in the company’s SEC filings.