Sands China Prices $1 Billion of Senior Notes on October 27 in Las Vegas, Nevada, for Refinancing and Debt Repayment
Las Vegas Sands Corp., headquartered in Las Vegas, Clark County, Nevada, announced on October 27 that its majority-owned subsidiary Sands China Ltd. has priced $1 billion of senior unsecured notes, comprising $700 million of 6.400 percent notes due 2032 and $300 million of 6.700 percent notes due 2033; the offering is expected to close on November 3, subject to customary closing conditions. Sands China intends to use the net proceeds of approximately $989 million, together with cash on hand, to redeem in full the principal of its $700 million 2.300 percent senior notes due 2027 plus accrued interest, repay the outstanding balance under its 2024 revolving credit facility, and for general corporate purposes including capital expenditures. The Sands group is one of the world's largest integrated resort companies, and Sands China operates integrated resorts in Macao; the issuance is a routine debt refinancing operation aimed at optimizing the maturity structure of its debt. Las Vegas Sands is headquartered in Las Vegas, and its Macao business is closely connected with Las Vegas's local convention and tourism economy, drawing market attention to the pricing. The notes have not been registered under the U.S. Securities Act and are offered only to professional investors.
Source: GSM · USA (original Chinese edition)
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