LVS has fresh US$1.5-billion senior unsecured revolving credit facility

According to a statement filed with the US Securities and Exchange Commission (SEC) on Wednesday, Las Vegas Sands Corporation (LVS) has been granted an extended senior unsecured revolving credit facility worth US$1.5 billion.

The arrangement, which was concluded on Wednesday, states that a $150 million sub-facility would be built especially for credit letters.

This new revolving credit facility may be used for “working capital and general corporate purposes,” as specified in the application, by Las Vegas Sands and its affiliates.

One of the six casino concessions in Macau is controlled by Las Vegas Sands’ subsidiary Sands China Ltd. The Marina Bay Sands resort, which is run by the parent company’s subsidiary Marina Bay Sands Pte Ltd, owns half of Singapore’s casino duopoly.

The report issued on Wednesday states that the current loans under the revolving credit facility are scheduled to expire on April 3, 2029.

In accordance with the agreement, among other financial requirements, Las Vegas Sands and its limited subsidiaries must maintain a “maximum consolidated net leverage ratio of 4.00 to 1.00 as of the last day of each fiscal quarter”.

Original story by: GGRAsia