Las Vegas Sands ups term loan to $1.35 billion, firmed at 99.75 OID

By Sara Rosenberg

New York, June 4 – Las Vegas Sands LLC upsized its incremental senior secured term loan B to $1.35 billion from $1 billion and set the original issue discount at 99.75, the tight end of the 99.5 to 99.75 talk, according to a market source.

Pricing on the term loan is still Libor plus 175 basis points with a 0% Libor floor.

Bank of Nova Scotia, Barclays, Bank of America Merrill Lynch, BNP Paribas Securities Corp., Citigroup Global Markets Inc. and Fifth Third are the joint lead arrangers and bookrunners on the deal. Senior managing agents include Morgan Stanley Senior Funding Inc. and Sumitomo Mitsui Banking Corp.

Recommitments were scheduled to be due at 5 p.m. ET on Monday, the source added.

Proceeds will be used for general corporate purposes.

Las Vegas Sands is a Las Vegas-based developer and operator of integrated resorts.

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