Las Vegas Sands amends credit pact, eases EBITDA calc, extends liquidity & dividend restrictions to Dec 2023

LAS VEGAS SANDS CORP

Amendment modifies Consolidated Adjusted EBITDA calculation for 2023 quarters on an annualized basis.
Minimum liquidity covenant extended through December 31, 2023.
Dividend/distribution payments restricted unless pro forma liquidity exceeds $1.0 billion, through Dec 2023.
Amendment effective January 30, 2023; lenders include Bank of Nova Scotia, Bank of America, Barclays, Goldman Sachs, BNP Paribas, Fifth Third, Sumitomo Mitsui.
Borrower paid non-refundable fee of [***]% of each consenting lender's revolving commitment.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.95

LAS VEGAS SANDS CORP amended Amendment No. 4 to Revolving Credit Agreement with The Bank of Nova Scotia, as administrative agent, and the lenders party thereto (effective 2023-01-30).

Action: amendment
Agreement: credit facility
Counterparty: The Bank of Nova Scotia, as administrative agent, and the lenders party thereto
Effective: 2023-01-30

Exact text from the filing

On January 30, 2023 (the “Effective Date”), Las Vegas Sands Corp. (the “Borrower”) entered into Amendment No. 4 to Revolving Credit Agreement (the “Amendment”) with the lenders party thereto and The Bank of Nova Scotia, as administrative agent (in such capacity, the “Administrative Agent”) with respect to the Revolving Credit Agreement, dated as of August 9, 2019

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Source: SEC EDGAR

accession 0001300514-23-000009

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