Sands China completes US$1bn senior notes offering
Sands China completed a US$1bn private offering of senior unsecured notes on Tuesday, according to filings by parent Las Vegas Sands. The issue comprises US$700m of 6.400% notes due in 2032 and US$300m of 6.700% notes due in 2033. The company said it intends to use proceeds and cash on hand to redeem US$700m of notes due in 2027, repay its revolving facility and fund general corporate purposes, including capital expenditure.
The completed debt issue gives Sands China proceeds for refinancing, facility repayment and general corporate purposes.