LAS VEGAS SANDS CORP. (NYSE:LVS) Files An 8-K Entry into a Material Definitive Agreement
Item 1.01.
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Entry Into a Material Definitive Agreement.
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direct, wholly owned subsidiary of Las Vegas Sands Corp. (LVSC),
and certain of the Borrowers other domestic subsidiaries (the
Guarantors) entered into a Fourth 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.
refinancing term loans (by way of continuing or replacing
existing term loans) in an aggregate amount of $2,182,500,000 for
the purpose of effecting a repricing and extending the maturity
date, in each case, of the term loans under the Existing Credit
Agreement. 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. Among other amendments provided
for by the Amendment Agreement, the Amendment Agreement lowers
the applicable margin credit spread for adjusted Eurodollar rate
term loans from 2.25% to 2.00% per annum and lowers the
applicable margin credit spread for alternative base rate term
loans from 1.25% to 1.00% per annum; removes the requirement to
prepay outstanding revolving loans and/or permanently reduce
revolving commitments in certain circumstances; and extends the
maturity date of the term loans from December 19, 2020 to March
29, 2024.
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.
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Item 2.03.
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Creation of a Direct Financial Obligation or an
Obligation under an Off-Balance Sheet Arrangement of a Registrant. |
herein by reference.
About LAS VEGAS SANDS CORP. (NYSE:LVS)
Las Vegas Sands Corp. is a developer of destination properties (integrated resorts) that offers accommodations, gaming, entertainment and retail, convention and exhibition facilities, celebrity chef restaurants and other amenities. The Company owns and operates integrated resorts in Asia and the United States. The Company’s principal operating and developmental activities occur in three geographic areas: Macao, Singapore and the United States. In Macao, the Company’s segments are The Venetian Macao, Sands Cotai Central, Four Seasons Macao, Sands Macao and Other Asia (comprises the Company’s ferry operations and various other operations). In Singapore, the Company’s segment is Marina Bay Sands. In the United States, the Company’s segments are The Venetian Las Vegas, which includes the Sands Expo Center and The Palazzo, and Sands Bethlehem. It also offers players club loyalty programs at its properties, which provide access to rewards, privileges and members-only events. LAS VEGAS SANDS CORP. (NYSE:LVS) Recent Trading Information
LAS VEGAS SANDS CORP. (NYSE:LVS) closed its last trading session up +0.33 at 57.25 with 2,985,608 shares trading hands.
