THE M3: HSBC EXITS MGM MACAU LOAN

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.