Las Vegas Sands Seeking $9 Billion Loan for Singapore Expansion
Las Vegas Sands’ (NYSE: LVS) Marina Bay Sands is rumored to be seeking a $9 billion loan to pay for expansion plans at the prestigious Singapore casino resort.
Should the operator procure financing at or close to that amount, it would be the largest extension of corporate credit in Singapore in recent years. Unidentified sources close to the matter told Bloomberg News that DBS Group Holdings Ltd., Malayan Banking Bhd., Oversea-Chinese Banking Corp., and United Overseas Bank Ltd. are working on the loan and are seeking contributions from other financial firms.
The sources said the loan would have a seven-year term, but particulars such as interest rates weren’t revealed. Las Vegas Sands, which is the parent of the holding company that controls Marina Bay Sands, has investment-grade credit marks at the three major ratings agencies, but by just one notch.
