Casino

Sands China to receive US$1 bln loan from parent company

Tuesday 12 de July 2022 / 11:19

⏱ 1 min read

(Macao).- Sands China will receive a US$1 billion (MOP8 billion) loan from parent company Las Vegas Sands and repayable on July 11, 2028, the gaming operator announced.

Sands China to receive US$1 bln loan from parent company

‘The Loan Agreement highlights both LVS and the Company’s confidence in the long-term growth potential of Macau, and the availability of the Loan further bolsters the Company’s balance sheet position and liquidity,’ Sands added.

The gaming concessionaire has seen its gaming license extended by six months until December 31, 2022 and is currently preparing its bid for the Macau SAR new gaming concession public tender.

In the first two years from July 11, 2022, Sands China will have the option to elect to pay cash interest at 5 per year or payment-in-kind interest at 6 per year by adding the amount of such interest to the then-outstanding principal amount of the Loan, following which only cash interest at 5 per year will be payable.

Categoría:Casino

Tags: Sin tags

País: Macao