Subject to final approval by certain creditors and stakeholders, the restructuring is expected to be implemented as soon as possible within the coming months. The recapitalization involves a new €215m subordinated secured loan facility and an €85m silent participation, which takes effect via provision of a limited-recourse equity stake to the lender in exchange for contributing funding. €300m in new funding from Germany's WSF There is €300m in new funding from Germany's Economic Stabilization Fund (WSF) for MV Werften and/or certain subsidiaries to complete the building of Crystal Endeavor and Global Dream. This will be guaranteed by Genting HK and certain wholly owned subsidiaries of MV Werften and secured by a composite security and guarantee package.