Marina Bay Sands (MBS) intends to secure a loan of up to S$10 billion ($7.5 billion) as the luxury casino operator seeks to expand its hotel and entertainment business, Bloomberg reported yesterday.
The Las Vegas Sands Corp.-owned resort may start marketing the deal as early as next quarter, according to sources with knowledge of the matter, who asked not to be identified due to the matter’s confidentiality. The plan will include the rollover of a delayed drawdown facility, refinancing of existing loans and new debt.
Las Vegas Sands has denied the report. “We are neither in the market or looking for S$10 billion in loans,” said Ron Reese, senior vice president of global communications for Las Vegas Sands.
If the deal size reaches the maximum size, this would mark the biggest-ever syndicated loan in Singapore funded in the local dollar, according to data compiled by Bloomberg.
The significant financing endeavor would complement Marina Bay Sands’ rebound from the pandemic as Singapore faces an influx of tourists, including those from mainland China.
The terms of the deal may change as deliberations are currently still at a preliminary stage, according to the sources cited by Bloomberg. Staff reporter
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