Las Vegas Sands Subsidiary in China Prices $1 Billion in Aggregate of Senior Notes

MT Newswires Live10-28 16:24

Las Vegas Sands' (LVS) majority-owned subsidiary, Sands China, has priced $700 million of 6.4% senior notes due 2032 and $300 million of 6.7% senior notes due 2033.

Sands China expects net proceeds of approximately $989 million. Together with cash on hand, the funds will be used to redeem its $700 million of 2.3% senior notes due March 8, 2027, repay borrowings under its 2024 revolving credit facility and fund general corporate purposes, including capital expenditures.

The offering is expected to close on Nov. 3.

Sands China plans to list the notes on the Hong Kong Stock Exchange and has received an eligibility letter from the exchange.

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