Las Vegas Sands Corp. announced that Sheldon G. Adelson, its Chairman, Chief Executive Officer and principal stockholder, and his family, have completed an investment in the company of USD 475 million in convertible senior notes in a private transaction.
„My family and I are pleased to make an additional investment in Las Vegas Sands Corp. as the company advances its development plans both domestically and around the globe,“ said Adelson.
„While the credit markets are experiencing turbulence, our strategy remains alive and well and our business continues to march forward. Little of our fundamental business strategy has changed and this investment will strengthen our capitalization and liquidity position as we continue to execute our plans,“ added Adelson.
The convertible senior notes mature on October 1, 2013, pay cash interest at 6.5% and are convertible into common stock at a price of USD 49.65. They will not be registered under the Securities Act of 1933, as amended, and may not be offered or sold in the United States absent such registration or an exemption from the registration requirements of such Act.