{"id":31659,"date":"2022-07-12T03:46:22","date_gmt":"2022-07-12T06:46:22","guid":{"rendered":"https:\/\/focusgn.com\/asia-pacific\/?p=31659"},"modified":"2026-04-23T06:57:55","modified_gmt":"2026-04-23T09:57:55","slug":"sands-china-to-receive-us1bn-loan-from-las-vegas-sands","status":"publish","type":"post","link":"https:\/\/focusgn.com\/asia-pacific\/sands-china-to-receive-us1bn-loan-from-las-vegas-sands","title":{"rendered":"Sands China to receive US$1bn loan from Las Vegas Sands"},"content":{"rendered":"\n<p class=\"wp-block-paragraph\">Las Vegas Sands Corp. will provide Sands China with a subordinated unsecured term loan.<\/p>\n\n\n\n<!--more-->\n\n\n\n<p class=\"wp-block-paragraph\">Macau.- Sands China Ltd has entered into a loan agreement with\u00a0<a rel=\"noreferrer noopener\" href=\"https:\/\/focusgn.com\/asia-pacific\/las-vegas-sands-ggr-wont-see-full-recovery-until-2024-analysts-say\" target=\"_blank\">Las Vegas Sands Corp<\/a>\u00a0(LVS) for <strong>MOP8bn (US$1bn)<\/strong>\u00a0repayable on July 11, 2028. LVS will provide the loan to support working capital and general corporate purposes among other things.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">According to the agreement, in the first two years from July 11, 2022,\u00a0<strong>Sands China will have the option to elect to pay cash interest at 5 per cent per year<\/strong>\u00a0or payment-in-kind interest at 6 per cent per year by adding the interest to the then-outstanding principal. After that only cash interest at 5 per cent per year will be payable.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">According to the statement issued by Sands China, the loan agreement &#8220;highlights both LVS and the company\u2019s confidence in the long-term growth potential of Macau, and the availability of the loan further bolsters the company\u2019s balance sheet position and liquidity.&#8221;\u00a0<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Yesterday (July 11)\u00a0<strong>JP Morgan Securities (Asia Pacific) Ltd\u00a0<\/strong>warned that Macau&#8217;s gross gaming revenue (GGR) for at least the majority of the third quarter may have to be written off. <a rel=\"noreferrer noopener\" href=\"https:\/\/focusgn.com\/asia-pacific\/macau-shuts-all-casinos-for-a-week-amid-rise-in-covid-19-cases\" target=\"_blank\">Analysts<\/a>\u00a0noted that Sands China Ltd currently has a minimum nine-month liquidity runway through March 2023.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Macau casino venues have been ordered to close their doors until July 18 due to the increase in Covid-19 cases in Macau.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Las Vegas Sands Corp. will provide Sands China with a subordinated unsecured term loan.<\/p>\n","protected":false},"author":176,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"is_press_release":false,"is_interview":false,"is_opinion":false,"focusai_summary":"Las Vegas Sands Corp. is extending a US$1 billion subordinated unsecured term loan to its subsidiary, Sands China Ltd., to bolster working capital and general corporate liquidity, signaling confidence in Macau's long-term market despite immediate GGR challenges. This financial injection comes as Macau's gaming sector faces temporary closures and a projected significant GGR write-off for Q3 2022, impacting Sands China's near-term operational environment.","focusai_entities":"Las Vegas Sands Corp., Sands China Ltd., JP Morgan Securities (Asia Pacific) Ltd","focusai_location":"Macau","focusai_target_profile":"ceo_executive (0.9), regulator (0.7), operator_casino (0.9), investor_analyst (1.0), supplier_vendor (0.7), journalist_researcher (0.9)","focusai_suggestions":[{"label":"Impact on LVS Balance Sheet","query":"How will this US$1 billion subordinated loan to Sands China impact Las Vegas Sands Corp.'s consolidated balance sheet and overall debt leverage ratios, particularly given the current GGR headwinds in Macau?"},{"label":"Macau Recovery Outlook","query":"What specific operational and regulatory catalysts are anticipated to drive the long-term growth potential in Macau, as referenced by LVS and Sands China, to justify this significant capital injection amidst immediate market closures?"}],"footnotes":""},"categories":[16338,163,158],"tags":[23906,21680],"class_list":["post-31659","post","type-post","status-publish","format-standard","hentry","category-east-asia-news","category-finance-news","category-slider-home","tag-macau-casinos","tag-sands-china"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/31659","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/users\/176"}],"replies":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/comments?post=31659"}],"version-history":[{"count":2,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/31659\/revisions"}],"predecessor-version":[{"id":31685,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/31659\/revisions\/31685"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=31659"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=31659"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=31659"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}