Las Vegas Sands to launch $5 billion credit facility Tuesday

By Sara Rosenberg

New York, April 13 - Las Vegas Sands Corp. is scheduled to hold a bank meeting on Tuesday morning to launch its proposed $5 billion domestic credit facility, according to a market source.

Goldman Sachs, Lehman Brothers and Citigroup are the joint lead arrangers and joint bookrunners on the deal, with Goldman the left lead. Scotia Capital and JPMorgan are agents.

The facility consists of a $1 billion revolver, a $1 billion delayed-draw term loan and a $3 billion funded term loan B, the source said.

Proceeds will be used to refinance the company's existing domestic credit facility, to provide funding for current and future capital needs and for general corporate purposes.

Las Vegas Sands is a Las Vegas-based developer of multi-use integrated resorts.

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