Sands China completed a US$1 billion private offering of senior unsecured notes on November 3, turning the refinancing plan announced in October into a funded transaction. The closing is recorded in a new Las Vegas Sands filing with the US Securities and Exchange Commission, while the operator's investor-relations page lists the related Hong Kong exchange notices.
The issue is split between US$700 million of notes carrying a 6.4% annual coupon and maturing in January 2032, and US$300 million at 6.7% due in November 2033. Both series are senior unsecured obligations. Interest will be paid twice a year, and the notes are intended for listing in Hong Kong for professional investors.
Sands China said it plans to combine the proceeds with cash on hand to redeem US$700 million of 2.3% notes due in 2027, including accrued interest. It also intends to repay the outstanding balance on its 2024 revolving credit facility. Any remaining funds may support general corporate purposes, including capital expenditure.
The transaction therefore replaces a near-term maturity with debt extending into 2032 and 2033, although the coupons on the new securities are higher than the rate on the notes being redeemed. Inside Asian Gaming reported the completed closing, distinguishing it from last week's pricing announcement. A Spanish-language filing report also describes the completed offering and the planned debt repayment.
