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Las Vegas Sands unit amends credit agreement

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Las Vegas Sands unit amends credit agreement

A Las Vegas Sands Corp. unit agreed to amend the company's existing credit agreement, pursuant to which term-loan lenders will provide refinancing loans of approximately $2.19 billion for the purpose of repricing certain term loans.

The amended agreement lowers the applicable margin credit spread for adjusted Eurodollar rate term loans to 2.25% from 2.50% per year. The agreement also lowers the applicable margin credit spread for alternative base rate term loans to 1.25% from 1.50% per year.

The adjusted Eurodollar rate floor under the agreement has also been lowered to 0% from 0.75% per year, effectively lowering the alternative base rate floor to 1.00% from 1.75% per year.

The Bank of Nova Scotia is the administrative agent and collateral agent.