Sands China lists $1 billion notes on Hong Kong Stock Exchange

Macau-based casino operator Sands China has listed its two-tranche unsecured senior notes on the Hong Kong Stock Exchange. The total amount is $1 billion. The company published the listing document in a notice dated November 4.

The first tranche is $700 million, carries an annual coupon of 6.4 percent and matures in 2032. The second tranche is $300 million, carries a 6.7 percent coupon and matures in 2033.

According to the previously announced financing plan, the net proceeds and existing cash will be used to redeem the $700 million bonds with a 2.3 percent coupon maturing in 2027, and to pay the accrued interest.

Part of the funds will also be set aside to repay borrowings under the 2024 revolving credit facility. The remainder will be used for general corporate purposes, including capital expenditures.