Asia
Sands China Obtains Exemptions on Credit Facility

Sands China Ltd, the Macau subsidiary of Las Vegas Sands, has made changes to the terms of a US$ 2.0 billion loan facility that it owns.
The revolving unsecured credit facility was approved by Sands China in November 2018 and it is valid until July 31, 2023. The facility involves a host of banks and has Bank of China Ltd, Macau Branch, as the lenders’ representative.
The revised terms allow for the agent and borrowers to “waive any default that may arise as a result of any breach of the requirements” even in the restated form.
The other changes are the following: the borrowers waiving Sands China’s conditions to ensure that its combined leverage ratio on the last day of any quarter does not exceed 4 to 1; and the combined interest coverage ratio on the last day of any quarter is greater than 2.5 to 1.
The lenders also decided to “extend the period of time during which the company may supply the [lenders’] agent with its audited consolidated financial statements for the financial year ended on December 31, 2019; to April 30, 2020;” with a similar loosening of the deadline for disclosing the results of the 2020 financial year – namely to April 30, 2021.
-
Latest News7 days ago
ATG to Appoint New Board as Government Hands Over Control
-
Latest News7 days ago
Best New Online Casinos Europe: Top 8 2025
-
Africa6 days ago
INCENTIVE GAMES SIGNS EXCLUSIVE DISTRIBUTION DEAL FOR NORTH AMERICA, EUROPE, SOUTH AFRICA AND UK WITH LIGHT & WONDER
-
Latest News7 days ago
Instant Withdrawal Crypto Casino – Best Crypto Casinos with Fast Payouts (2025)
-
Asia5 days ago
SA Gaming is thrilled to announce the launch of Fish Prawn Crab
-
Compliance Updates6 days ago
Navigating Legal Frontiers: Nordic Legal’s Vision for the Finnish Gambling Market
-
Asia5 days ago
Team Zero Gravity Triumphs in Indus International Tournament Powerplay, Secures Spot in LAN Finale
-
Gambling in the USA6 days ago
Gaming Americas Weekly Roundup – April 7-13