Project financing commitments for Las Vegas Sands Cotai Strip development complete
The us$ 1.75 billion total reflects an additional us$ 300 million of commitments secured since the company originally announced the receipt of commitments for the financing of the project. In addition to the project financing, us$ 500 million of the proceeds expected to be received when the global offering of Sands China Ltd's. shares are listed on the Hong Kong Stock Exchange will also be used to fund development and construction of the project. The combined figures represent the total amount of funding needed to complete the Shangri-La, Traders, Sheraton integrated resort complex.
"We feel gratified that in committing this capital, the investment community believes, as we always have, that Macau's future as a true leisure and business destination lies in the development of the Cotai Strip and its ability to offer a critical mass of hotel rooms, restaurants, retail, entertainment, and convention and exhibition facilities," said Sheldon G. Adelson, chairman of both Las Vegas Sands Corp. and Sands China Ltd.
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