• About Us
  • The Team
  • Advertise with Us

The latest news on the gaming industry in Asia

() () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () ()
  • Home
  • Macau
  • Philippines
  • Singapore
  • Japan
  • Rest of Asia
  • World
  • Industry Talk
  • Trends & Tech
  • iGaming
  • follow
    • Facebook
    • Twitter
    • RSS Feed
    • LinkedIn

Sands China gets new waiver on credit facility conditions

Jul 08, 2021 Newsdesk Latest News, Macau, Top of the deck  


Sands China gets new waiver on credit facility conditions

Macau casino operator Sands China Ltd says it has negotiated a third waiver extension and amendment to the conditions of a US$2.0-billion loan facility it holds. The company is a subsidiary of U.S.-based casino operator Las Vegas Sands.

The changes include the lenders agreeing to extend by one year, to January 1, 2023, the waiver period for the requirement whereby Sands China had to ensure that its consolidated leverage ratio on the last day of any financial quarter does not exceed 4 to 1; and that the consolidated interest coverage ratio on the last day of any financial quarter is greater than 2.5 to 1.

The lenders also agreed to “extend the period of time during which the company may supply the [lenders'] agent with its audited consolidated financial statements for the financial year ended on December 31, 2021, to April 30, 2022”.

Under the new agreement, the dividend restriction period was also extended by one year, to January 1, 2023, inclusive.

The revolving unsecured credit facility – that Sands China had agreed in November 2018 and which is available until July 31, 2023 – is with a number of banks, with Bank of China Ltd, Macau Branch, as agent for the lenders.

Pursuant to the third waiver agreement, “the company agreed to pay a customary fee to the lenders,” added the filing.

On January 25, Sands China had exercised its option to increase the lenders’ total commitments by HKD3.83 billion (about US$494 million at the exchange rate at the time).

Sands China did not state in its Wednesday filing specific reasons for the amendments. The company has an ongoing commitment to spend hundreds of millions of U.S. dollars on infrastructure in the Macau casino market, as it completes the revamp of the Londoner Macao casino resort.

The company has said it hopes to launch the Londoner Court hotel at Londoner Macao “in phases” before October Golden Week this year. The Londoner Macao had its first-phase launch on February 8, ahead of the Chinese New Year break.


  • tweet
Related articles
  • AAEC side files appeal notice on failed lawsuit against LVS
    AAEC side files appeal notice on failed...

    May 17, 2022  

  • No extension of deadline for appeal in AAEC suit vs LVS
    No extension of deadline for appeal in...

    May 12, 2022  

More news
  • Andrew Lo takes controlling stake in Suncity, Summit Ascent
    Andrew Lo takes controlling stake in...

    May 19, 2022  

  • Okada Manila chair Manuel Lazaro dies aged 87
    Okada Manila chair Manuel Lazaro dies...

    May 19, 2022  


Latest News

Andrew Lo takes controlling stake in Suncity, Summit Ascent

Andrew Lo takes controlling stake in Suncity, Summit Ascent

May 19, 2022  

Andrew Lo Kai Bong (pictured), a senior executive at Hong Kong-listed casino investor Suncity Group Holdings Ltd, acquired controlling shares in the firm with effect from May 13, according to...
Read More
Okada Manila chair Manuel Lazaro dies aged 87

Okada Manila chair Manuel Lazaro dies aged 87

May 19, 2022  

Bloomberry plans 3rd Philippine casino, coastal near Manila

Bloomberry plans 3rd Philippine casino, coastal near Manila

May 19, 2022  

Sign up to our FREE Newsletter

UB8V5.qr.16(Click here for more)

Pick of the Day


US$403.9 million

Interim normalised profit after tax and amortisation reported by slot machine maker and online gaming content provider Aristocrat Leisure



Most Popular

  • Wynn CEO, Macau execs in base pay cut in return for sharesWynn CEO, Macau execs in base pay cut in return for shares May 17, 2022
  • Macau repeat visitors denied visa by China says BernsteinMacau repeat visitors denied visa by China says Bernstein May 16, 2022
  • U.S. says Steve Wynn ‘foreign agent’, lobbied for ChinaU.S. says Steve Wynn ‘foreign agent’, lobbied for China May 18, 2022
  • Alleged bribe offer to ex-Wynn manager probed by HK, MacauAlleged bribe offer to ex-Wynn manager probed by HK, Macau May 17, 2022
Copyright 2014-2022 TEAM Publishing and Consultancy Ltd / All rights reserved
  • Code of Ethics
  • Privacy Policy
  • Useful Links
  • Contact Us