Sunday, August 14, 2022

Sands China gets $2b credit line


Sands China said it entered into an accord with lenders for a $2 billion revolving credit line for general corporate purposes.

The facility is available until July 31, 2023, it said in a filing with the Hong Kong Stock Exchange.

The company can draw funds in either U.S. or HK dollars under the facility.

U.S. dollar loans under the revolving facility will bear interest based over the London Interbank Offered Rate. General revolving loans in HK dollars will be determined over the Hong Kong interbank offered rate. The initial margin will be at 2 percent per annum.

The company also has access to a swing-line loan sub-facility, which will be priced over separate benchmarks and will carry a rate of 1 percent per annum.

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