Marina Bay Sands Secures Record S$12 Billion Loan For Expansion
Marina Bay Sands Pte has secured a S$12 billion (US$9 billion) multi-tranche loan, marking the largest syndicated loan in Singapore’s history, according to a person familiar with the matter. The funding will support the expansion of its integrated casino resort, as well as refinancing existing facilities.
Coordinating banks for the deal included DBS Group Holdings Ltd., Malayan Banking Bhd, Oversea-Chinese Banking Corp, and United Overseas Bank Ltd, with 22 additional lenders joining the syndication. The loan surpasses Singapore’s previous record of S$9.3 billion, set in 2012 for Thai billionaire Charoen Sirivadhanabhakdi’s acquisition of Fraser & Neave Ltd.
Marina Bay Sands’ expansion plans have seen costs surge to an estimated US$8 billion, up from the initial US$3.4 billion projected in 2019. This comes as Singapore’s tourism industry experiences a strong post-pandemic recovery, with international arrivals rising by 21% last year to 16.5 million, driven by visitors from China, Indonesia, and India.
When asked about the deal, a Marina Bay Sands representative stated that the company does not have “any information to provide at this time.” Its parent company, Las Vegas Sands Corp, has yet to respond to requests for comment.
Bloomberg
