Sands China prices $1 billion senior notes offering

Sands China Ltd., a subsidiary of Las Vegas Sands Corp., has successfully priced a $1 billion offering of senior notes, according to a press release. The deal includes $700 million in 6.400% notes maturing in 2032 and $300 million in 6.700% notes maturing in 2033. These notes are exclusively offered to professional investors, as defined by the Hong Kong Listing Rules, who are categorized as institutional buyers under Rule 144A or non-U.S. persons under Regulation S. The transaction is set to close on November 3, 2026, pending customary conditions.

Sands China intends to utilize the net proceeds, estimated at roughly $989 million, to repay the outstanding principal of its $700 million 2.300% senior notes due in 2027, along with accrued interest, and to settle the outstanding balance on its 2024 SCL Revolving Facility. Additionally, the funds will be allocated to general corporate purposes, including capital expenditures.

The notes have not been registered under the Securities Act of 1933 and are not yet listed on the Hong Kong Stock Exchange, though Sands China has received an eligibility letter for such a listing.