SEARCH NEWS:

 

Las Vegas Sands completes initial funding for Singapore project

LAS VEGAS, Nevada -- (PRESS RELEASE) -- Las Vegas Sands Corp. (NYSE: LVS) announced today that the company has completed the initial funding of SGD $2.0 billion under its credit facility for the development of the Marina Bay Sands in Singapore. The initial borrowing under the credit facility, for which the interest rate is based on the Singapore Dollar Swap Offer Rate for a maturity of thirty days, bears interest at approximately 3.6%.

Las Vegas Sands Corp. Chairman and Chief Executive Officer Sheldon G. Adelson stated, "We are pleased to have completed the first drawdown of this precedent-setting financing for our Marina Bay Sands development. The credit facility, which is the largest private Singapore Dollar-denominated financing ever completed, will provide flexible and cost effective financing as we build South Asia's first Integrated Resort. We are quite gratified that the Singapore interest rate is significantly below the rates which we would have to incur in the U.S. or other international markets in today's market."

< Gaming News