Bloomberg News

Marina Bay Sands Said to Seek S$4.6 Billion for Loan Refinancing

January 31, 2012

Jan. 27 (Bloomberg) -- Marina Bay Sands Pte, the Singapore unit of Las Vegas Sands Corp., is considering borrowing about S$4.6 billion ($3.7 billion) to refinance loans, said three people familiar with the matter, who asked not to be identified as the details are private.

Marina Bay Sands has S$5.4 billion in loans that mature in 2015, according to data compiled by Bloomberg. Marina Bay Sands in Singapore couldn’t comment immediately.

The U.S. casino company controlled by billionaire Sheldon Adelson reported third-quarter profit in October that beat analysts’ estimates, spurred by growth in both Singapore and Macau. Cash flow at Marina Bay Sands in Singapore was a record $413.9 million in the quarter.

Singapore has authorized just two casinos, which Las Vegas Sands and Malaysian rival Genting Bhd. opened in the first half of 2010. International visitor arrivals to the Southeast Asian city-state rose 15 percent from a year earlier to about 3.5 million in the third quarter, according to the Singapore Tourism Board.

--Editors: Andrew Monahan, Lars Klemming

To contact the reporters on this story: Joyce Koh in Singapore at jkoh38@bloomberg.net; Wendy Mock in Hong Kong at wmock3@bloomberg.net; Tanya Angerer in Singapore at tangerer@bloomberg.net

To contact the editor responsible for this story: Shelley Smith at ssmith118@bloomberg.net


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