Las Vegas Sands unit prices $1B senior notes to refinance debt
- Las Vegas Sands (LVS) Tuesday said that its majority-owned subsidiary, Sands China Ltd, has 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, the company said in a statement.
- Sands China intends to use the net proceeds of ~$989 million from the offering and cash on hand to redeem in full the outstanding principal amount of its $700 million 2.300% senior notes due 2027 and any accrued interest, repay the outstanding balance on its 2024 SCL Revolving Facility, and for general corporate purposes, including capital expenditures.
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