The Macau Metro Monitor, September 28, 2011
SANDS CHINA SECURES UP TO $3.7 BILLION IN CREDIT LVS
Sands China Ltd has entered into an term loan and revolving facilities agreement of US$3.7BN. The credit agreement consists of (i) a US$3.2BN term loan that may be drawn until Nov 29, 2011 (Term Loan Facility) and (ii) a US$500MM revolving credit facility available until one month prior to the fifth anniversary of the date of the initial funding of loans under the Term Loan Facility.
Sands expects to draw the full amount of the Term Loan Facility prior to Nov 29, after satisfying certain initial funding conditions and government approval. The proceeds of the Facilities will be used to refinance outstanding debt and working capitals needs, including those for its Sands Cotai Central project.