Las Vegas Sands seeks amendment to buy back $800 million of term loans

By Sara Rosenberg

New York, March 24 - Las Vegas Sands Corp. is in discussions with its bank group about an amendment to its credit facility that would allow for the repurchase of $800 million in term loan debt, according to an 8-K filed with the Securities and Exchange Commission on Tuesday.

Under the proposal, the company would have until Sept. 30, 2010 to conduct the Dutch auctions and there would be a minimum repurchase offer of $25 million.

The Bank of Nova Scotia is the administrative agent on the deal.

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

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