Sands Wants Option to Buy Back Debt

LAS VEGAS (AP) - 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.

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.

(Copyright 2009 by The Associated Press. All Rights Reserved.)

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