Home THE DAILY EDGE Business Marina Bay sands said to seek $4.6b for loan refinancing
Marina Bay sands said to seek $4.6b for loan refinancing

Tags: Las Vegas Sands Corp | Marina Bay Sands

Written by The Edge   
Friday, 27 January 2012 20:20
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Marina Bay Sands, the Singapore unit of Las Vegas Sands Corp., is considering borrowing about $4.6 billion  to refinance loans, said three people familiar with the matter, who asked not to be identified as the details are private, reported Bloomberg.
 
Marina Bay Sands has $5.4 billion in loans that mature in 2015, according to data compiled by Bloomberg. Marina Bay Sands in Singapore couldn’t comment immediately.
 
The U.S. casino company controlled by billionaire Sheldon Adelson reported third-quarter profit in October that beat analysts’ estimates, spurred by growth in both Singapore and Macau. Cash flow at Marina Bay Sands in Singapore was a record $413.9 million ($518.9 million) in the quarter.
 
Singapore has authorized just two casinos, which Las Vegas Sands and Malaysian rival Genting Bhd. opened in the first half of 2010. International visitor arrivals to the Southeast Asian city-state rose 15% from a year earlier to about 3.5 million in the third quarter, according to the Singapore Tourism Board.
 
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Last Updated on Friday, 27 January 2012 21:24