Tue, 18 February 2025
| Marina Bay Sands’ expansion plans come as Singapore’s tourism industry has staged a sharp rebound since the pandemic. (Photo: Sanjit Das/Bloomberg) |
By Chien Mi Wong
(Bloomberg) — Marina Bay Sands Pte has obtained a $12 billion (US$9 billion) multi-tranche loan to fund a planned expansion of its casino resort in Singapore, according to a person familiar with the matter, marking the largest such financing in the city state ever.
DBS Group Holdings Ltd, Malayan Banking Bhd, Oversea-Chinese Banking Corp and United Overseas Bank Ltd were the coordinating banks on the credit facility, which attracted 22 other lenders when it was syndicated to the broader market, the person said, who asked not to be named discussing private matters.
A representative at Marina Bay Sands said the company doesn’t have “any information to provide at this time” when asked about the deal, while its parent Las Vegas Sands Corp. didn’t immediately respond to requests for comment sent outside normal working hours.
The loan will be used for refinancing and to fund the expansion of the company’s integrated resort, the cost of which is expected to balloon to US$8 billion from the original estimate of about US$3.4 billion made in 2019.
Marina Bay Sands’ expansion plans come as Singapore’s tourism industry has staged a sharp rebound since the pandemic. International visitor arrivals in the city state last year increased by 21 per cent to 16.5 million, led by tourists from China, Indonesia and India.
The previous syndicated loan record in Singapore was a $9.3 billion facility signed in 2012, which financed the acquisition of food and beverage maker Fraser & Neave Ltd by Thai billionaire Charoen Sirivadhanabhakdi’s TCC Assets Ltd.
©2025 Bloomberg L.P.
A representative at Marina Bay Sands said the company doesn’t have “any information to provide at this time” when asked about the deal, while its parent Las Vegas Sands Corp. didn’t immediately respond to requests for comment sent outside normal working hours.
The loan will be used for refinancing and to fund the expansion of the company’s integrated resort, the cost of which is expected to balloon to US$8 billion from the original estimate of about US$3.4 billion made in 2019.
Marina Bay Sands’ expansion plans come as Singapore’s tourism industry has staged a sharp rebound since the pandemic. International visitor arrivals in the city state last year increased by 21 per cent to 16.5 million, led by tourists from China, Indonesia and India.
The previous syndicated loan record in Singapore was a $9.3 billion facility signed in 2012, which financed the acquisition of food and beverage maker Fraser & Neave Ltd by Thai billionaire Charoen Sirivadhanabhakdi’s TCC Assets Ltd.
©2025 Bloomberg L.P.
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