LAS VEGAS SANDS CORP. (NYSE:LVS) Files An 8-K Entry into a Material Definitive Agreement
Item 1.01
| Entry Into a Material Definitive Agreement. |
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.
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).
the Existing Credit Agreement are unchanged.
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. |
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 down -0.13 at 54.06 with 2,125,300 shares trading hands.