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LAS VEGAS-Fontainebleau Resorts LLC has closed on more than $4 billion of financing from a consortium led by Bank of America, Merrill Lynch, Deutsche Bank and Barclays. The locally based developer says financing will fully fund development of Fontainebleau Las Vegas, the expansion and renovation of Fontainebleau Miami Beach, and the repayment of existing debt.

As part of the financing arrangement, Fontainebleau raised $565 million in private placements of common and preferred equity. That total includes $250 million it obtained in April from Australia-based Publishing & Broadcasting Limited in exchange for the 19.6% interest in the company.

Construction began earlier this year for Fontainebleau Las Vegas, a $2.9-billion, 25-acre development across from Circus Circus Hotel-Casino on the Strip. Fontainebleau will be anchored by a 63-story, 3,889-room hotel, condotel and casino. Project amenities include a 60,000-sf spa, a 3,200-seat performance theater, an oversized rooftop pool and lounge and an undisclosed amount of retail.