LAS VEGAS SANDS CORP. (NASDAQ:LVS) Files An 8-K Entry into a Material Definitive Agreement

LAS VEGAS SANDS CORP. (NASDAQ:LVS) Files An 8-K Entry into a Material Definitive Agreement

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Item 1.01

Entry Into a Material Definitive Agreement.
On December 27, 2016, Las Vegas Sands, LLC (LVS or the Borrower),
a direct, wholly-owned subsidiary of Las Vegas Sands Corp. (LVSC)
and certain of the Borrowers other domestic subsidiaries (the
Guarantors) entered into a Third Amendment (the Amendment
Agreement) to the Existing Credit Agreement (as defined below)
with certain of the Lenders party thereto and The Bank of Nova
Scotia (Scotiabank), as Administrative Agent and Collateral
Agent. The Amendment Agreement amends the Second Amended and
Restated Credit and Guaranty Agreement dated as of December 19,
2013 (as amended previously, the Existing Credit Agreement and,
as amended by the Amendment Agreement, the Amended Credit
Agreement), among LVS, as Borrower, the Guarantors, various
Lenders, Scotiabank, as Administrative Agent and Collateral
Agent, and the other parties thereto. Capitalized terms used
herein and not defined herein are defined in the Amended Credit
Agreement.
to the Amendment Agreement, term loan lenders will provide
refinancing term loans (by way of continuing or replacing
existing term loans) in an aggregate amount of $2,188,125,000 for
the purpose of effecting a repricing of term loans. The term
loans bear interest, at the Borrowers option, (i) at an adjusted
Eurodollar rate plus an applicable margin credit spread or (ii)
at an alternative base rate plus an applicable margin credit
spread. The Amendment Agreement lowers the applicable margin
credit spread for adjusted Eurodollar rate term loans from 2.50%
to 2.25% per annum and lowers the applicable margin credit spread
for alternative base rate term loans from 1.50% to 1.25% per
annum. Additionally, the Amendment Agreement lowers the adjusted
Eurodollar rate floor from 0.75% to 0.00% per annum (and thereby
effectively lowers the alternative base rate floor from 1.75% per
annum to 1.00% per annum).
Other than the items indicated above, the terms and conditions of
the Existing Credit Agreement are unchanged.
Some of the lenders, agents and arrangers under the Amendment
Agreement and Amended Credit Agreement and their respective
affiliates have provided, and may provide in the future,
investment banking, commercial banking and other financial
services for LVSC and its subsidiaries in the ordinary course of
business, for which they have received and will receive customary
compensation.
Item 2.03 Creation of a Direct Financial Obligation or an Obligation
under an Off-Balance Sheet Arrangement of a Registrant.
The information set forth above in Item 1.01 is incorporated
herein by reference.
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