Las Vegas Sands and Sands China announce expansion of credit facility
Las Vegas Sands and Sands China Chairman and Chief Executive Officer Sheldon G. Adelson stated, "We are extremely pleased to announce this additional borrowing under Sands China's existing credit facility, which we believe will enhance our balance sheet strength and financial flexibility and support our ability to increase the return of capital to shareholders. We greatly appreciate the strong support of our lending group and the continued confidence they have shown in our company."
"Our unique convention-based Integrated Resort business model, coupled with our financial strength, represents a key competitive advantage as we pursue new Integrated Resort development opportunities around the globe. We will continue to execute our plans to enhance our balance sheet strength and financial flexibility," said Mr. Adelson.
The company expects to receive the U.S. dollar equivalent of $1.0 billion in proceeds from the new term loan on or around April 30, 2015.
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