SINGAPORE: The expansion of Marina Bay Sands (MBS) is now expected to cost US$8 billion (S$10.7 billion), according to Bloomberg, which is S$6.1 billion more than the original estimate of US$3.4 billion (S$4.6 billion) made in 2019.
The project, which includes a new fourth tower and a 15,000-seat arena, is set for completion in early 2031, pending government approval, as revealed in the October 2024 earnings report.
According to Mothership, to finance the expansion of the Las Vegas Sands casino resort, MBS is seeking a loan of approximately S$12 billion (US$9 billion), which would make it the largest financing deal from Singapore.
The loan is being coordinated by DBS Bank, Malayan Banking, OCBC Bank, and UOB, according to unnamed sources familiar with the matter.
According to sources, the seven-year loan will also refinance an existing S$4 billion (US$3 billion) loan arranged last August 2019.
Singapore’s previous syndicated loan record was a S$9.3 billion deal in 2012, used to finance the acquisition of Fraser & Neave by Thai billionaire Charoen Sirivadhanabhakdi’s TCC Assets. /TISG
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