debt
confidence high
sentiment neutral
materiality 0.50
LVS subsidiary Sands China secures HKD 32.45B revolving/term loan; repays 2025 notes
LAS VEGAS SANDS CORP
- HKD 19.5B revolver ($2.51B) and HKD 12.95B term loan ($1.67B) to repay 5.125% Senior Notes due Aug 2025.
- Maturity: revolver until Oct 2029; term loan 5 years from draw (must draw by Aug 2025).
- Interest rates: HIBOR + 2.50% (revolver), HIBOR + 1.65% (term loan); commitment fee 0.60% on undrawn amounts.
- Existing 2018 SCL Credit Facility terminated concurrent with new facility.
- Covenants include max leverage ratio, min interest coverage, and restrictions on repaying $1.0B sub loan from LVS if cash <$250M.