Sands China recently confirmed that it received a $1 billion subordinated unsecured loan from its parent, US-based Las Vegas Sands Corp (LVS).
Sands China underlines that this loan is a sign of the group's confidence in Macau's recovery, despite times of uncertainty due to the increase in COVID-19 cases in mainland China. At the same time, the action demonstrates the company's balance sheet position and liquidity.
On the other hand, Sands China stresses that the parent's loan "would support, among other things, the group's working capital and general corporate purposes."
In the first two years of the credit facility, Sands China will have the option of choosing to pay cash interest of 5% per annum or payment-in-kind interest of 6% per annum, “adding the amount of such interest to the principal amount outstanding at the time of the loan”. Thereafter, cash interest of 5% per annum will be paid.
As we have published on other occasions, Las Vegas Sands has closed the sale of properties in Las Vegas for 6,250 million dollars, and owns approximately 70% of the issued capital stock of Sands China.
18+ | Juegoseguro.es – Jugarbien.es