Sands China has priced a $1 billion senior-notes offering split between two unsecured tranches. The company's October 28 stock-exchange filing says the purchase agreement was signed on October 27 in New York with Barclays, BofA Securities and Goldman Sachs acting as representatives of the initial purchasers.
The larger tranche consists of $700 million of 6.4% notes maturing on January 8, 2032. A second $300 million tranche carries a 6.7% coupon and matures on November 8, 2033. Both series are scheduled to be issued on November 3, subject to customary closing conditions, and rank as general unsecured obligations of Sands China.
Sands China expects about $989 million in net proceeds. Together with cash on hand, the company plans to redeem its outstanding $700 million of 2.3% notes due in March 2027, repay the outstanding balance under its 2024 revolving credit facility and fund general corporate purposes including capital expenditure. The transaction therefore replaces near-term debt with longer maturities while raising the interest cost on the refinanced portion.
Inside Asian Gaming's report independently matches the tranche sizes, coupons, maturity dates and intended use of proceeds. The notes are being offered to qualified institutional buyers and eligible non-US investors rather than through a public offering in Hong Kong or the United States.
