Hospitality Net
7 January 2008
LAS VEGAS | Las Vegas Sands Corp. (NYSE:LVS) announced today that the company has entered into a credit agreement which provides financing of up to SGD $5,442,604,530 for the development of the Marina Bay Sands in Singapore. Borrowings under the credit agreement will bear interest at a spread of 2.25% above the Singapore Dollar SWAP Offer Rate for a selected maturity of one, two, three or six months. The current Singapore Dollar Swap Offer Rate for a maturity of three months is approximately 2.16%.
Las Vegas Sands Corp. President William Weidner stated, "We are pleased to have completed this important financing for our Marina Bay Sands development. The completion of this Singapore Dollar-denominated facility, which is the largest private Singapore Dollar-denominated financing in Singapore's history, was accomplished on very favorable terms in a challenging global credit environment.
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