Search
 

Casino Wins Favored Loan Terms

Las Vegas Sands gets investment-grade treatment despite junk ratings.

By Katrina Nicholas, Bloomberg | Updated on June 07, 2012

Junk-rated Las Vegas Sands Corp., the casino operator controlled by billionaire Sheldon Adelson, is getting investment-grade treatment from banks as cash flow from its properties in Asia outpaces those in the U.S.

Lenders participating in a S$4.6 billion ($3.6 billion) credit facility dropped demands that the Las Vegas based company use any excess cash at the end of its financial year to reduce the loan’s outstanding balance, two people familiar with the matter said on June 4. Typically, only high-grade borrowers are awarded such terms.

Complete your profile to continue reading and get FREE access to Treasury & Risk, part of your ALM digital membership.

Your access to unlimited Treasury & Risk content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Critical Treasury & Risk information including in-depth analysis of treasury and finance best practices, case studies with corporate innovators, informative newsletters, educational webcasts and videos, and resources from industry leaders.
  • Exclusive discounts on ALM and Treasury & Risk events.
  • Access to other award-winning ALM websites including PropertyCasualty360.com and Law.com.

Already have an account?

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

Recommended Stories

Treasury & Risk

Join Treasury & Risk

Don’t miss crucial treasury and finance news along with in-depth analysis and insights you need to make informed treasury decisions. Join Treasury & Risk now!

  • Free unlimited access to Treasury & Risk including case studies with corporate innovators, informative newsletters, educational webcasts, and resources from industry leaders.
  • Exclusive discounts on ALM and Treasury & Risk events.
  • Access to other award-winning ALM publications including PropertyCasualty360.com and Law.com.

Already have an account? Sign In Now
Join Treasury & Risk

Copyright © 2024 ALM Global, LLC. All Rights Reserved.