LAS VEGAS, April 13, 2015 /PRNewswire/ -- Las
Vegas Sands Corp. (NYSE: LVS) announced today that its
majority-owned subsidiary Sands China Ltd. has reached an
agreement with the lenders in its existing credit facility to
provide an additional U.S. dollar equivalent $1 billion term loan.
Las Vegas Sands and Sands China Chairman and Chief Executive
Officer Sheldon G. Adelson stated,
"We are extremely pleased to announce this additional borrowing
under Sands China's existing credit facility, which we believe will
enhance our balance sheet strength and financial flexibility and
support our ability to increase the return of capital to
shareholders. We greatly appreciate the strong support of our
lending group and the continued confidence they have shown in our
company."
"Our unique convention-based Integrated Resort business model,
coupled with our financial strength, represents a key competitive
advantage as we pursue new Integrated Resort development
opportunities around the globe. We will continue to execute our
plans to enhance our balance sheet strength and financial
flexibility," said Mr. Adelson.
The company expects to receive the U.S. dollar equivalent of
$1.0 billion in proceeds from the new
term loan on or around April 30,
2015.
About Las Vegas Sands
Las Vegas Sands (NYSE: LVS) is the world's leading developer and
operator of Integrated Resorts. Our collection of Integrated
Resorts in Asia and the United States feature state of the art
convention and exhibition facilities, premium accommodations,
world-class gaming and entertainment, destination retail and dining
including celebrity chef restaurants, and many other amenities.
Our properties include the five-diamond Venetian and Palazzo
resorts and Sands Expo Center in Las
Vegas, Sands Bethlehem in Eastern
Pennsylvania, and the iconic Marina Bay Sands in
Singapore. Through our majority ownership in Sands China Ltd.
(HK: 1928), LVS owns a portfolio of properties on the Cotai Strip
in Macao, including The Venetian
Macao, The Plaza and Four Seasons Hotel Macao and Sands Cotai
Central, as well as the Sands Macao on the Macao Peninsula.
LVS is dedicated to being a good corporate citizen, anchored by
the core tenets of delivering a great working environment for
nearly 50,000 employees worldwide, driving impact through our Sands
Cares corporate citizenship program and leading innovation with the
company's award-winning Sands ECO360° global sustainability
program. To learn more, please visit
www.sands.com.
Contacts:
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|
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Investment
Community:
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Daniel
Briggs
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(702)
414-1221
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Media:
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Ron Reese
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(702)
414-3607
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SOURCE Las Vegas Sands Corp.