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Las Vegas Sands | 8-K: Current report

SEC announcement ·  Apr 4 05:30
Summary by Futu AI
On April 3, 2024, Las Vegas Sands Corp. entered into a new Revolving Credit Agreement with various lenders and The Bank of Nova Scotia serving as the administrative agent. The agreement establishes a $1.5 billion revolving credit facility, which includes a $150 million sub-facility for letters of credit. The funds are intended for working capital, general corporate purposes, and other lawful activities. The credit facility is set to mature on April 3, 2029, with interest rates tied to the secured overnight financing rate plus a margin, or an alternate base rate plus a margin, both dependent on the company's credit rating. Quarterly commitment fees on the undrawn portion will also be charged. The agreement stipulates a maximum consolidated net leverage ratio of 4.00 to 1.00 for the company and its Restricted Subsidiaries, along with other customary covenants and events of default provisions. Concurrently, the company terminated and repaid all obligations under the previous Revolving Credit Agreement dated August 9, 2019.
On April 3, 2024, Las Vegas Sands Corp. entered into a new Revolving Credit Agreement with various lenders and The Bank of Nova Scotia serving as the administrative agent. The agreement establishes a $1.5 billion revolving credit facility, which includes a $150 million sub-facility for letters of credit. The funds are intended for working capital, general corporate purposes, and other lawful activities. The credit facility is set to mature on April 3, 2029, with interest rates tied to the secured overnight financing rate plus a margin, or an alternate base rate plus a margin, both dependent on the company's credit rating. Quarterly commitment fees on the undrawn portion will also be charged. The agreement stipulates a maximum consolidated net leverage ratio of 4.00 to 1.00 for the company and its Restricted Subsidiaries, along with other customary covenants and events of default provisions. Concurrently, the company terminated and repaid all obligations under the previous Revolving Credit Agreement dated August 9, 2019.
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