Sands China Ltd. announced that its subsidiary VML US Finance LLC has entered into a new loan agreement with lenders for $1 billion due to be transacted at the end of this month.
“The Company is pleased to announce that on April 10, 2015, (the “Borrower”), an indirect, wholly-owned subsidiary of the Company, entered into a Joinder Agreement under the Restated Credit Agreement…”
The credit spread ranges from 0.250% to 1.125% per annum for loans accruing interest at a base rate, and from 1.250% to 2.125% per annum for loans accruing interest at an adjusted Eurodollar or HIBOR rate.
“The Borrower is required to make principal payments on a quarterly basis beginning on June 30, 2018 in accordance with the provisions of the Joinder Agreement. The maturity date of the New Term Loan is March 30, 2021.”
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