The Macau Metro Monitor, July 20th, 2010
HSBC PULLS OUT OF MGM GRAND MACAU LOAN IFR Asia
According to a source close to the deal, HSBC has pulled out of a US$850m five-year loan for MGM Grand Macau. HSBC was committed for US$100MN. The move comes as a surprise because while the facility is a club-style loan, HSBC worked behind the scenes on coordination and promotion of the deal. A banker said HSBC's exit will not affect the outcome of the loan since it was “comfortably” oversubscribed.