Casino operator Las Vegas Sands Corp. says it is talking with its banks about a credit amendment that would let it buy back up to $800 million in debt. But its chief executive says the company only wants to have the option, and doesn't intend to repurchase debt anytime soon.
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Billionaire CEO Sheldon Adelson told The Associated Press on Tuesday that the Las Vegas-based company considers the option another tool to solve potential covenant breaches, but that it isn't necessary right now.
The company disclosed the discussions in a regulatory filing. The amendment would let Sands acquire debt outstanding through 2010.
Sands says it had $10.5 billion in long-term debt as of Dec. 31.
Shares of Sands rose 40 cents on Tuesday to close at $3.05, up 15 percent.