There are no victims or deceased mentioned in the given text. : Marina Bay Sands Plans $7.5B Loan to Expand Luxury Casino and Hotel Business

Death – Obituary – Accident and Crime News : Marina Bay Sands Pte, a luxury casino operator owned by Las Vegas Sands Corp., is planning to secure a loan of up to S$10 billion ($7.5 billion) from banks as part of its expansion strategy in the hotel and entertainment sector. According to anonymous sources familiar with the matter, the company may begin marketing the deal in the next quarter. The plan involves refinancing existing loans, rolling over a delayed drawdown facility, and acquiring new debt. However, the terms of the deal are subject to change as discussions are still in the preliminary stages.

If the loan reaches its maximum size, it would become Singapore’s largest-ever syndicated loan in the local currency, according to Bloomberg data. This financing initiative aligns with Marina Bay Sands’ recovery from the pandemic, as Singapore anticipates a surge in tourism, particularly from mainland China.

Marina Bay Sands has not yet responded to Bloomberg’s request for comment regarding the loan. However, its parent company stated in an October filing that the expansion plan for the Singapore casino operator, which includes a hotel tower with luxury rooms and convention facilities, is expected to exceed the initially estimated cost of S$4.5 billion due to inflation, higher material costs, and labor expenses.

In line with a previous loan obtained in 2019, DBS Group Holdings Ltd., Oversea-Chinese Banking Corp., United Overseas Bank Ltd., and Maybank Securities Pte are likely to serve as the lead mandated arrangers and bookrunners for the new deal. While a significant portion of the loan will be used to refinance existing debt, Marina Bay Sands also aims to borrow an additional amount of up to S$2 billion as part of the package.

The largest syndicated loan in Singapore to date was a S$9.3 billion facility in 2012, which financed the acquisition of food and beverage maker Fraser & Neave Ltd. by Thai billionaire Charoen Sirivadhanabhakdi’s TCC Assets Ltd.

In conclusion, Marina Bay Sands’ ambitious loan plan reflects its determination to expand its operations in the hotel and entertainment sectors, capitalizing on the anticipated growth in tourism in Singapore.

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