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The Macau Metro Monitor, August 2nd, 2010


LAS VEGAS SANDS SEEKS TO EXTEND, PAY DOWN LOAN  Reuters

Reuters sources said LVS seeks to amend its $5 billion credit facility by paying down $750 million of the outstanding $3.9 billion and extending ~$2.25 billion for 2.5 years.  Thus, ~$900 million of the amount outstanding would not be extended.  The paydown piece applies only to those who extend for 2.5 years.  Lenders who extend would receive 75 more bps in coupon to 250 bps + Libor.  Consenting lenders would also receive a 10 bps amendment fee.  The amendment requires 50% approval from lenders to pass.  

MGM MACAU SIGNS USD 950 MILLION LOAN MGM

MGM Macau has signed a five-year refinancing loan worth $950 million.  The new credit facility consist of a HKD4.290 billion (US$550 million) term loan and a HKD3.120 billion (US$400 million) revolving credit facility, which mature in July, 2015.