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twitterBig note offering priced at 11 percent
Wednesday, May 29, 2002 | 11:10 a.m.
Sheldon Adelson's Venetian Casino Resort LLC and Las Vegas Sands Inc. said their $850 million mortgage note offering last week was priced at 11 percent. The notes mature in June 2010.
Venetian and its subsidiaries also intend to enter into a new senior secured credit facility totaling $375 million and a new secured mall loan facility of $105 million.
Venetian intends to use the proceeds from the mortgage notes and borrowings under the new loan facilities to pay off existing debt and to expand The Venetian resort on the Las Vegas Strip.
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