Sands China draws down US$200 million, says enough cash to continue through end-2022

Macau casino concessionaire Sands China Ltd says it has the financial capacity to support ongoing operations and development projects until “at least” the end of 2022 should COVID-19 pandemic conditions continue long-term.

Some details of the company’s current financial situation were made public on Monday as part of a registration statement filed with the US Securities and Exchange Commission, related to an exchange offer for US$1.95 billion in outstanding notes issued by the company last September. Sands China is looking to exchange the outstanding notes for new notes that have been registered under the Securities Act and don’t have any transfer restrictions.

According to the registration statement, Sands China drew down a combined US$201 million under its 2018 SCL Credit Facility on 15 March 2022, with the proceeds to be used for “general corporate purposes”. It also revealed the company has another US$1.54 billion available under the facility.

Source: https://www.asgam.com/index.php/2022/04/05/sands-china-draws-down-us200-million-says-enough-cash-to-continue-through-end-2022/