Las Vegas Sands unit signs $2.81 billion term loan in new Singapore credit deal
On February 21, 2025, Marina Bay Sands, a subsidiary of Las Vegas Sands, entered a Singapore credit agreement with DBS Bank as agent, providing three facilities: a SGD 3.75 billion term loan (about $2.81 billion), a SGD 750 million revolver (about $561 million) and a SGD 7.5 billion delayed draw term loan (about $5.61 billion) tied to the Marina Bay Sands expansion. The company also notified DBS on February 18, 2025 that it intends to prepay its 2012 Singapore credit facility, conditional on receiving proceeds from the new facilities, so the filing mainly reflects a refinancing and new borrowing capacity for shareholders to weigh.
Key points
- Term Loan Facility of SGD 3.75 billion (about $2.81 billion) is available for 30 days after the February 21, 2025 execution date
- Delayed Draw Term Loan Facility of SGD 7.5 billion (about $5.61 billion) funds Marina Bay Sands expansion development and construction costs
- Obligations are secured by a first-priority security interest in substantially all of the borrower's assets, with maximum leverage and minimum interest coverage covenants
- Term Loan Facility matures 84 months and Revolving Facility 78 months after the Closing Date; prepayment of the 2012 facility is conditioned on these proceeds
The filing
Written by AI (Anthropic Claude, claude-haiku-5-5) on Nov 8, 2026, 1:10 AM ET, from the text of the filing and its press-release exhibits only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on February 24, 2025.
Briefs are written by AI from the filing text (each brief's own page names the model) and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the model's reading of the filing for shareholders, not a price forecast. Not investment advice.