Las Vegas Sands Reports Material Agreement Changes

TL;DR

LVS filed an 8-K detailing new financial obligations and agreement terminations.

AI Summary

On April 3, 2024, Las Vegas Sands Corp. (LVS) filed an 8-K to report the entry into and termination of a material definitive agreement, as well as the creation of a direct financial obligation. The filing also includes financial statements and exhibits related to these events.

Why It Matters

This filing indicates significant changes in the company's contractual and financial obligations, which could impact its future operations and financial health.

Risk Assessment

Risk Level: medium — The filing involves material definitive agreements and financial obligations, which inherently carry some level of risk and require investor attention.

Key Players & Entities

• LAS VEGAS SANDS CORP (company) — Filer
• April 3, 2024 (date) — Date of Report
• Nevada (jurisdiction) — State of Incorporation
• 5420 S. Durango Drive, Las Vegas, Nevada 89113 (address) — Principal Executive Offices
• 702-923-9000 (phone_number) — Registrant's Telephone Number

FAQ

Key Financial Figures

• $0.001 — ange on which registered Common Stock ($0.001 par value) LVS New York Stock Exchange
• $1.5 b — ty in the aggregate principal amount of $1.5 billion, which includes a $150 million su
• $150 million — mount of $1.5 billion, which includes a $150 million sub-facility for letters of credit. The

Filing Documents

• lvs-20240403.htm (8-K) — 40KB
• lvs_ex101x04032024.htm (EX-10.1) — 629KB
• 0001300514-24-000055.txt ( ) — 951KB
• lvs-20240403.xsd (EX-101.SCH) — 2KB
• lvs-20240403_lab.xml (EX-101.LAB) — 21KB
• lvs-20240403_pre.xml (EX-101.PRE) — 12KB
• lvs-20240403_htm.xml (XML) — 3KB

01. Entry into a Material Definitive Agreement

ITEM 1.01. Entry into a Material Definitive Agreement. On April 3, 2024 (the "Closing Date"), Las Vegas Sands Corp. (the "Borrower") entered into a Revolving Credit Agreement (the "Revolving Credit Agreement"), with the lenders and issuing banks from time to time party thereto and The Bank of Nova Scotia ("Scotiabank"), as administrative agent (in such capacity, the "Administrative Agent"), swingline lender and an issuing bank. The Revolving Credit Agreement provides for a new revolving credit facility in the aggregate principal amount of $1.5 billion, which includes a $150 million sub-facility for letters of credit. The proceeds of the loans made and letters of credit issued under the Revolving Credit Agreement may be used for working capital and general corporate purposes of the Borrower and its affiliates and any other purpose not prohibited by the Revolving Credit Agreement. The outstanding loans under the Revolving Credit Agreement are scheduled to mature, and the unused commitments thereunder are scheduled to terminate, on April 3, 2029. The loans made under the Revolving Credit Agreement will bear interest at either, at the Borrower's option, (x) an adjusted rate equal to the secured overnight financing rate as administered by the Federal Reserve Bank of New York (or a successor administrator of the secured overnight financing rate), plus an applicable margin ranging from 1.125% to 1.550% per annum, or (y) at an alternate base rate, plus an applicable margin ranging from 0.125% to 0.550% per annum, in each case, depending on the Borrower's corporate family credit rating. Under the Revolving Credit Agreement, the Borrower must pay a commitment fee quarterly in arrears on the undrawn portion of the revolving commitments, which commitment fee ranges from 0.125% to 0.250% per annum, depending on the Borrower's corporate family credit rating. The Revolving Credit Agreement contains customary affirmative and negative covenants, in each case, subject to customa

02. Termination of a Material Definitive Agreement

ITEM 1.02. Termination of a Material Definitive Agreement On the Closing Date, in connection with the entry into the Revolving Credit Agreement as described in Item 1.01 above, the Borrower terminated and repaid all outstanding obligations under the then-existing Revolving Credit Agreement, dated as of August 9, 2019 (as amended, restated, amended and restated, supplemented or otherwise modified prior to the Closing Date) with the lenders and issuing banks party thereto, and Scotiabank, as administrative agent. ITEM 2.03. Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant The information set forth above in Item 1.01 is incorporated herein by reference.

01. Financial Statements and Exhibits

ITEM 9.01. Financial Statements and Exhibits. (d) Exhibits 10.1* Revolving Credit Agreement, dated as April 3, 2024, by and among Las Vegas Sands Corp., as borrower, the lenders and issuing banks from time to time party thereto and The Bank of Nova Scotia, as administrative agent, swingline lender and an issuing bank. 104 Cover Page Interactive Data File - the cover page XBRL tags are embedded within the Inline XBRL document * Certain exhibits and schedules to the Revolving Credit Agreement have been omitted in accordance with Item 601(a)(5) of Regulation S-K. Certain identified information has been redacted from the Revolving Credit Agreement in accordance with Item 601(b)(2)(ii) or 601(b)(10)(iv) of Regulation S-K, as applicable.

SIGNATURES

SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report on Form 8-K to be signed on its behalf by the undersigned, hereunto duly authorized. Dated: April 3, 2024 LAS VEGAS SANDS CORP. By: / S / D. Z ACHARY H UDSON Name: D. Zachary Hudson Title: Executive Vice President, Global General Counsel and Secretary

View Full Filing

View this 8-K filing on SEC EDGAR