Las Vegas Sands completes initial funding under credit facility for Marina Bay Sands
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 CEO 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 US or other international markets in today’s market," he concluded.
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