Sands China renegotiates credit terms

The Chinese arm of Las Vegas Sands had already asked for lending conditions to be relaxed once due to the Covid-19 pandemic.

Macau.- Sands China, the Asian division of American casino giant Las Vegas Sands, has again renegotiated the credit terms on a revolving credit line worth US$2 billion.

The company entered a credit facility agreement with creditors through the Bank of China in November 2018.

In March, it submitted a waiver and amendment request to relax the conditions and terms of payment for the period from January 1, 2020 to July 1, 2021 due to the Covid-19 pandemic.

According to Sands China’s latest filing, the firm has agreed an amendment to that original renegotiation, extending the period until January 1, 2022.

Sands China also has the possibility to extend the lenders’ total commitments for an aggregate amount of up to US$1 billion.

The commitment also sets limits to the company’s ability to declare or distribute any dividend payments until the end of period set.