The Macau Metro Monitor, July 21st, 2010
SANDS GETS FIRST TRANCHE OF LOAN macaubusiness.com, Inside Asian Gaming
According to a SEC filing, LVS has drawn down the first US$750 MN tranche of its US$1.75 BN syndicated loan for its Sites 5 & 6 on Cotai. Venetian Orient Limited (VOL), an indirect subsidiary of LVS, received the tranche on July 16. In addition to the first tranche of money, the credit agreement makes available a US$750 million term loan offered on a delayed draw basis until 11/17/2011 and a US$250 million revolving credit facility available until 4/17/2015.
The ten lenders of the syndicated loan include Goldman Sachs Lending Partners LLC, BNP Paribas, Citibank and three Chinese banks– Bank of China, Industrial and Commercial Bank of China, and Oversea-Chinese Banking Corporation.
CONSUMER PRICE INDEX FOR JUNE 2010 DSEC
June CPI increased 2.68% YoY and 0.32% MoM.
GOVT WITH MORE THAN MOP 122 BILLION IN THE BANK macaubusiness.com
Macau registered a budget surplus of MOP 26.6 BN in the first half of 2010, with direct taxes from gaming increasing 63% YoY. Macau's surplus since 2002 reached more than MOP 122 BN, enough to cover the government’s budget for four years. Direct taxes from gaming in the first half of 2010 totaled MOP 30 BN, representing 85% of the public finance revenue.