LAS VEGAS, NV -- (Marketwire) -- 02/27/12 -- Las Vegas Sands Corp. (NYSE: LVS) announced today that it has elected to redeem all of its outstanding 6.375% Senior Notes due February 2015 (the "Senior Notes").
The Senior Notes, which have an outstanding principal balance of $189.7 million, will be redeemed on March 28, 2012 at 101.063% of the principal amount plus accrued interest. Following the redemption of the Notes, the company expects to realize annual interest savings of approximately $12 million.
Sheldon G. Adelson, chairman and chief executive officer, stated, "We are pleased to announce the redemption of our Senior Notes approximately three years before their maturity date. Our strong cash flows, liquidity and financial position have enabled us to eliminate the most expensive remaining debt obligation on the balance sheet of the company. We will consistently seek additional opportunities to optimize our capital structure and enhance returns to shareholders in the future."
About Las Vegas Sands Corp.
Las Vegas Sands Corp. (NYSE: LVS) is a Fortune 500 company and the leading global developer of destination properties (Integrated Resorts) that feature premium accommodations, world-class gaming and entertainment, convention and exhibition facilities, celebrity chef restaurants, and many other amenities.
THE VENETIAN® and THE PALAZZO®, Five-Diamond luxury resorts on the Las Vegas Strip, and SANDS® Bethlehem in Eastern Pennsylvania are the company's properties in the United States.
In Singapore, the iconic MARINA BAY SANDS® is the most recent addition to the company's portfolio.
Through its majority-owned subsidiary Sands China Ltd., the company also owns a collection of properties in Macao, including THE VENETIAN® Macao, Four Seasons Hotel Macao, and Sands Cotai Central, a 13.7 million square foot 6,400-room complex opening in early 2012 at the company's COTAI STRIP® development. The company also owns the SANDS® Macao on the Macao peninsula.
Las Vegas Sands is also committed to global sustainability through its SANDS Eco 360 program and is an active community partner through its various charitable organizations.
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Investment Community:
Daniel Briggs
(702) 414-1221
Media:
Ron Reese
(702) 414-3607
