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Marina Bay Sands Pte is seeking to secure a loan of up to S$12 billion ($8.9 billion) to fund its casino resort expansion in Singapore, which would mark the largest financing deal in the city-state's history. DBS Group Holdings Ltd., Malayan Banking Bhd., Oversea-Chinese Banking Corp., and United Overseas Bank Ltd. are coordinating the loan arrangements.
Marina Bay Sands is pursuing a loan of approximately S$12 billion ($9 billion) to finance the expansion of its casino resort in Singapore, potentially marking the largest loan in the country’s history. The financing, coordinated by major banks including DBS Group and United Overseas Bank, will have a seven-year term and will be syndicated to additional lenders. Terms are still under negotiation and may change.
Founded in 1984, Jardine Matheson Holdings Limited operates across various sectors, including automotive, financial services, and property, with a secondary listing on the Singapore Stock Exchange. In Singapore, notable large-cap stocks include DBS Group Holdings, OCBC, and Singtel, with market capitalizations exceeding S$10 billion, reflecting their stability and maturity in the market.
United Overseas Bank Ltd. shares surged by 5.6% following CEO Wee Ee Cheong's announcement at an earnings briefing that the bank would consider a share buyback among other options. The stock is now trading at a record high, mirroring the recent performance of DBS Group Holdings Ltd., which also experienced a significant rise after revealing a new share buyback program.
United Overseas Bank Limited
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Marina Bay Sands seeks record 12 billion dollar loan for expansion
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07:08 26.11.2024
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