CHICAGO, Oct. 1, 2007 (PRIME NEWSWIRE) -- KL Finance, LLC, a closely held finance company, has closed a $30 million receivable finance facility for timeshare receivables originated at The Aruban Resort & Casino At Eagle Beach (The Aruban). The resort is located in Oranjestad, Aruba, Dutch Caribbean, and was formerly known as the La Cabana Villas. The credit facility was placed with Resort Funding LLC. Details of the transaction were not disclosed.
The Aruban includes a 362-room timeshare and resort hotel consisting of two five-story buildings and two four-story buildings, a 48,000 square foot permanent casino, a restaurant (currently operating as a temporary casino) and recreational amenities.
In addition to completely renovating and upgrading each condominium, The Aruban will redesign and renovate the permanent casino into a state-of-the-art gaming, entertainment, restaurant and convention facility. When completed the casino will be one of the largest in the Caribbean. In addition, The Aruban will be selling more than 15,000 timeshare interests.
The Aruban Resort & Casino logo is available at http://www.primenewswire.com/newsroom/prs/?pkgid=4109
About KL Finance, LLC
KL Finance LLC, organized under the laws of Anguilla, is a private international finance company, with offices in Chicago.
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