Las Vegas Sands Secure Financing
According to a Las Vegas Sands Corp (LVS: 26.69 0.00%) filing with the Hong Kong Stock Exchange on Monday, the company is seeking to raise $1.75 billion in U.S. Funds.
The gaming company has received $1.45 billion in commitments from commercial banks and financial institutions, and are ‘actively seeking’ the remaining $300 million. The loans will be used to finance the first two phases of the integrated resort on the Coati Strip.
Last year Sands China, a subsidiary of Las Vegas Sands Corp, had put the project on hold due to the effects of the global economic crisis.
Additional financing efforts for the casino operator include kicking off the roadshow aimed at raising between 2.5 and 3.4 billion dollars on the Hong Kong Stock Exchange later this month. Sands China is offering 1.87 billion shares, 1.27 billion are new while 600 million are secondary shares being sold by the parent company.
Syndicate analysts forecast that Sands is in a prime position to capitalize on growth in the Macau market as it already operates about 74% of grade A retail space in the colony and controls approximately 30% of the mass market in China.
Join the forum discussion of this news story - (1) PostsRelated posts:
