Las Vegas Sands Corp. announced plans Monday to refinance the company’s existing debt using a consortium of banks.
The casino operator, which owns The Venetian and Palazzo as well as casinos in Macau and Singapore, said in the brief statement the proposed refinancing would extend the maturity dates for the company’s long-term debt and remove certain financial covenants.
As of Sept. 30, Las Vegas Sands had total debt outstanding of $9.76 billion. The company did not say how much of its long-term debt would be re-financed. Las Vegas Sands spokesman Ron Reese declined comment on the statement.
Bloomberg News reported that Las Vegas Sands plans to refinance $3.25 billion of its debt.
The company said the refinancing is subject to market and other customary conditions and there can be no assurance that the refinancing will occur.
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