THE M3: HYATT OPENS, LVS FINANCING

The Macau Metro Monitor. October 20th, 2009

GRAND HYATT MACAU OPENS IN THE CITY OF DREAMS hotelinteractive.com

Hyatt Hotels & Resorts today announced the opening of Grand Hyatt Macau located on the Cotai Strip in the new City of Dreams development.  The 791-guestroom hotel has fifteen individual function areas spanning more than 968,000 square feet.  Grand Hyatt Macau now has one of the largest event spaces in Macau.

 


VENETIAN MACAU SEEKS $1.75 - $2 BILLION FINANCING reuters.com

Las Vegas Sands Corp is seeking $1.75 billion to $2 billion five-year financing for its subsidiary, Venetian Macau, almost twelve months after cancelling a $5.25 billion financing and mothballing its Macau projects, according to banking sources.  Funds from the new deal will be used to complete Lots 5&6.  The news could come as a boost ahead of the company’s upcoming $1.5billion - $2 billion initial public offering in Hong Kong in November.

The financing is said to comprise of revolving credit and a term loan. LVS is rumored to be seeking a rate of 400 basis points over LIBOR, while “bankers looking at the deal” said they would expect pricing over 500 basis points all-in.