Sands (LVS) Seeks $3.7B Loan for Singapore Property ReFi
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Shares of Las Vegas Sands (NYSE: LVS) are indicated higher Friday amid reports it might be seeking more financing.
According to Bloomberg, Sands has tapped DBS Bank, Oversea-Chinese Banking Corp, and United Overseas Bank to coordinate a $3.7 billion (S$4.6 billion) loan.
The loan will be put toward Sands' Singapore unit Marina Bay Sands Pte. to refinance its debt. The loan might come in the form of a S$4.1 billion term facility and S$500 million revolving credit facility, Bloomberg noted.
Marina Bay is just one of two casinos authorized to operate in Singapore, with the other being from Malaysia's Genting Bhd. Singapore has also seen an increase in tourism, with a 13 percent boost reported for 2011 with total receipts expected to be S$22.2 billion.
Sands shares are up about 0.7 percent early.
According to Bloomberg, Sands has tapped DBS Bank, Oversea-Chinese Banking Corp, and United Overseas Bank to coordinate a $3.7 billion (S$4.6 billion) loan.
The loan will be put toward Sands' Singapore unit Marina Bay Sands Pte. to refinance its debt. The loan might come in the form of a S$4.1 billion term facility and S$500 million revolving credit facility, Bloomberg noted.
Marina Bay is just one of two casinos authorized to operate in Singapore, with the other being from Malaysia's Genting Bhd. Singapore has also seen an increase in tourism, with a 13 percent boost reported for 2011 with total receipts expected to be S$22.2 billion.
Sands shares are up about 0.7 percent early.
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