LAS VEGAS – October 29, 2026 -- Sands China Ltd. has priced $1 billion of senior notes, with net proceeds of approximately $989 million earmarked largely to refinance existing debt, parent company Las Vegas Sands Corp. (NYSE: LVS) said.
Two-tranche offering carries coupons of 6.400% and 6.700%
The majority-owned LVS subsidiary priced $700 million of 6.400% senior notes due 2032 and $300 million of 6.700% senior notes due 2033. The offering is expected to close on November 3, 2026, subject to customary closing conditions.
Proceeds will retire $700 million of 2.300% notes due 2027
Sands China will combine the net proceeds with cash on hand to redeem in full its US$700 million 2.300% senior notes due 2027, plus accrued interest. The 6.400% coupon on the new 2032 tranche is 4.1 percentage points above the coupon on the notes being retired.
Funds will also repay the outstanding balance on the company's 2024 SCL Revolving Facility. Any remainder is designated for general corporate purposes, including capital expenditures.
Notes are limited to professional investors under Rule 144A and Regulation S
The notes are unregistered under the Securities Act of 1933. They are offered only to professional investors, as defined in Chapter 37 of the Hong Kong Listing Rules, who are qualified institutional buyers under Rule 144A and/or non-U.S. persons outside the United States under Regulation S. None will be offered to the public in Hong Kong or placed with any connected person of Sands China.
Sands China, listed in Hong Kong as HKEx: 1928, plans to seek a listing of the notes on the Hong Kong Stock Exchange. It has received an eligibility letter from the exchange for that listing.