The financing is being syndicated to the broader market, and pays an interest income of around 120 basis points a year, the people said. The borrowing will be split into three tranches, including up to $7.5 billion for a delayed-draw term financing, $3.75 billion in term loans and $750 million for a revolving credit facility, according to the people.
A spokesperson at Marina Bay Sands declined to comment.
Bloomberg News reported earlier that the loan will be used for refinancing and to fund the expansion of the company’s integrated resort, the cost of which has ballooned since the initial proposal.
Las Vegas Sands’ planned expansion of the Singapore casino resort is currently expected to cost US$8 billion ($10.78 billion), versus an original estimate of about US$3.4 billion made in 2019.
