Marina Bay Sands seeks largest loan to fund casino expansion
Tuesday 19 de November 2024 / 12:00
⏱ 1 min read
(Singapore).- Marina Bay Sands is seeking a loan of about S$2 billion (US$9 billion), in what would be Singapore's largest financing ever as the company looks to fund the planned expansion of its casino resort in the city state.
According to people familiar with the matter who asked not to be identified discussing private information, DBS Group Holdings Ltd, Malayan Banking Bhd, Oversea-Chinese Banking Corp and United Overseas Bank Ltd are coordinating the loan. The facility, which has a seven-year term, will be syndicated to other financiers, the people said, adding that the terms have not been finalized and could change as negotiations continue.
The loan will be used to refinance an existing S$4 billion seven-year loan from August 2019, the people said. The funds will also help fund the proposed expansion of the company's Marina Bay Sands integrated resort, the cost of which has more than doubled since it was first proposed, the people said.
A representative for Marina Bay Sands said the company has “no further information to provide at this time” when asked about the deal, while parent company Las Vegas Sands Corp declined to comment.
Las Vegas Sands’ planned expansion of the Singapore casino resort is currently expected to cost $8 billion, up from an original estimate of around $3.4 billion made in 2019.
Categoría:Casino
Tags: Sin tags
País: Singapore
Región: Asia
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