Las Vegas Sands Eyes 3-Tranche Loan for Singapore Casino
Las Vegas Sands (NYSE: LVS) is said to be seeking a three-tranche loan for nearly $9 billion for expansion of its Marina Bay Sands casino resort in Singapore.
News of the $8.9 billion in borrowing, which would be the largest corporate loan in Singapore’s history, surfaced earlier this month with more details emerging this week. Unidentified sources close to the matter told Bloomberg News the loan could be broken up into three parts consisting of $5.6 billion in delayed-draw term financing, $2.8 billion worth of term loans, and a $560 million credit facility.
DBS Group Holdings Ltd., Malayan Banking Bhd., Oversea-Chinese Banking Corp., and United Overseas Bank Ltd. are the lenders marketing the loan, and that consortium is rumored to be seeking assistance from other banks.