New Issue: Las Vegas Sands prices $250 million 10-year notes at 99.089 to yield 6½%

By Paul A. Harris

St. Louis, Feb. 3 - Las Vegas Sands Corp. priced $250 million 10-year senior notes (B2/B) at 99.089 with a 6 3/8% coupon to yield 6½%, according to a syndicate source.

Price talk was in the 6¼% area.

Goldman Sachs & Co. ran the books for the Rule 144A offering. The co-managers were Lehman Brothers, Citigroup, JP Morgan, Merrill Lynch & Co., UBS Investment Bank and Scotia Capital.

The company will also obtain a $400 million amended term loan.

Proceeds will be used to fund the tender for the company's 11% mortgage notes due 2010.

The issuer is a Las Vegas-based hotel, gaming, resort and exhibition-convention company.

Issuer:	Las Vegas Sands Corp.
Amount:	$250 million
Maturity:	Feb. 15, 2015
Security description:	Senior notes
Bookrunner:	Goldman Sachs & Co.
Co-managers:	Lehman Brothers, Citigroup, JP Morgan, Merrill Lynch, UBS Investment Bank, Scotia Capital
Coupon:	6 3/8%
Price:	99.089
Yield:	6½%
Spread:	233 basis points
Call features:	Callable after Feb. 15, 2010 at 103.188, 102.125, 101.063, par on and after Feb. 15, 2013
Equity clawback:	Until Feb. 15, 2008 for 35% at 106.375
Trade date:	Feb. 3
Settlement date:	Feb. 10
Ratings:	Moody's: B2
	Standard & Poor's: B
Price talk:	6¼% area

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