Bank of China<\/strong><\/em> as the agent, in November 2018. It expires in July 2023. <\/p>\n\n\n\nThe company said the changes include lenders waiving requirements for the company to ensure that its consolidated leverage ratio does not exceed 4 to 1 on the last day of any financial quarter. <\/p>\n\n\n\n
The lenders also agreed to waive a clause stating that the consolidated interest coverage ratio at the end of the quarter is greater than 2.5 to 1. The waiver is in place through to the quarter ending July 2021. <\/p>\n\n\n\n
The amendments also include a waiver on any default that may arise as a result of a breach of the aforesaid debt and interest covenants.<\/p>\n\n\n\n
The company was granted the flexibility ahead of the deadline to submit its financial reports for 2019 to April 2020 and for the 2020 year to April 2021.<\/p>\n","protected":false},"excerpt":{"rendered":"
Operator granted relief over certain terms to its $US2billion revolving credit facility.<\/p>\n","protected":false},"author":2,"featured_media":5067,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"is_press_release":false,"is_interview":false,"is_opinion":false,"focusai_summary":"Sands China has successfully negotiated critical amendments to its US$2 billion revolving credit facility, securing waivers on consolidated leverage and interest coverage ratio covenants. These revisions, effective through July 2021, are designed to mitigate potential default risks stemming from the Coronavirus crisis and enhance the company's financial flexibility.","focusai_entities":"Sands China, Bank of China","focusai_location":"Macau","focusai_target_profile":"ceo_executive (1.0), regulator (0.7), compliance_legal (0.8), operator_casino (0.9), investor_analyst (1.0), supplier_vendor (0.8), journalist_researcher (1.0)","focusai_suggestions":[{"label":"Impact on future covenants","query":"What are the long-term implications of these covenant waivers on Sands China's future debt agreements and capital structure post-July 2021?"},{"label":"Competitor financial strategies","query":"How do these negotiated terms compare to financial relief strategies adopted by other major integrated resort operators in Macau or other global gaming verticals during the pandemic?"}],"footnotes":""},"categories":[160,16338,163],"tags":[29,257],"class_list":["post-5062","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-asia-pacific","category-east-asia-news","category-finance-news","tag-casino","tag-macau"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/5062","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\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/comments?post=5062"}],"version-history":[{"count":8,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/5062\/revisions"}],"predecessor-version":[{"id":777014079,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/5062\/revisions\/777014079"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/5067"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=5062"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=5062"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=5062"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}