SANDS CHINA ANNOUNCES OFFERING OF SENIOR UNSECURED NOTES

Sands China plans to use offering proceeds and cash on hand to retire existing notes and repay its revolving facility.

Rhea-AI Summary

Las Vegas Sands (LVS) announced that its majority-owned subsidiary Sands China intends to offer U.S. dollar-denominated senior unsecured notes. Principal amounts, interest rates and other terms will be determined at pricing.

Sands China plans to use net proceeds and cash on hand to redeem its US$700 million 2.300% senior notes due 2027 in full, including accrued interest, and repay the outstanding balance on its 2024 SCL Revolving Facility. Other uses include general corporate purposes and capital expenditures. No binding agreement has been entered into, and the proposed offering may not materialize.

3 points · 0 major

MixediHow this balance works

How this balance works

Rhea-AI gives every point it takes from this document a weight. Minor counts 1, Moderate 3 and Major 9, so one Major point outweighs several Minor ones. The bar adds up the weights on each side, and when neither side holds more than 65% of the total the balance reads Mixed.

It reads the document as published, with the same rules for every company, and it does not look at what the market expected or at how the stock traded, so a point can be objectively good on a day the stock falls.

Rhea-AI Sentiment measures something else, the tone of the wording.

How the balance worksHow Sentiment works

0 major · 2 points

Hollow bars mark forward-looking points. How the balance works

Positive

• Moderate point. Forward-looking: it has not happened yet and may not happen.Sands China's proposed offering would raise funding through U.S. dollar-denominated senior unsecured notes.
• Moderate point. Forward-looking: it has not happened yet and may not happen.Sands China plans full redemption of US$700 million 2.300% notes due 2027, including accrued interest. 3% of market cap
• Minor point. Forward-looking: it has not happened yet and may not happen.Sands China plans to repay the outstanding balance on its 2024 SCL Revolving Facility.

Negative

• Moderate point. Forward-looking: it has not happened yet and may not happen.Sands China's proposed senior unsecured notes would create a new debt obligation.
• Minor pointThe proposed offering has no binding agreement and may not materialize.

Key Figures

Existing notes principal: $700 million Existing notes interest rate: 2.300% Existing notes maturity: 2027

Existing notes principal

$700 million

Outstanding senior notes targeted for full redemption

Existing notes interest rate

2.300%

Senior notes targeted for redemption

Existing notes maturity

2027

Maturity year of notes targeted for redemption

Key Terms

senior unsecured notes, rule 144a, regulation s, qualified institutional buyers

4 terms

senior unsecured notes financial

"intends to offer USD-denominated senior unsecured notes"

Senior unsecured notes are a type of loan a company borrows from investors, promising to pay back with interest. They are called "unsecured" because they aren’t backed by specific assets like buildings or equipment, but "senior" because they are paid back before other debts if the company gets into trouble. Investors see them as a relatively safer way for companies to raise money.

rule 144a regulatory

"in reliance on Rule 144A under the Securities Act"

Rule 144A is a regulation that makes it easier for companies to sell private bonds to large investors without going through all the usual rules that apply to public sales. It matters because it helps companies raise money more quickly and privately, often attracting big investors looking for special deals.

regulation s regulatory

"in reliance on Regulation S under the Securities Act"

Regulation S is a set of rules that allows companies to sell securities (like shares or bonds) to investors outside the United States without having to follow all U.S. securities laws. It matters because it makes it easier for companies to raise money from international investors while still complying with U.S. regulations.

qualified institutional buyers regulatory

"that are qualified institutional buyers"

Qualified institutional buyers are large organizations, like big investment firms or banks, that are allowed to buy certain types of investment opportunities not available to everyday investors. Their size and experience matter because it ensures they understand and can handle complex financial deals, making markets more efficient and secure.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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LAS VEGAS, Oct. 26, 2026 /PRNewswire/ -- Las Vegas Sands Corp. (NYSE: LVS) today announced that its majority-owned subsidiary, Sands China Ltd. ("Sands China"), intends to offer USD-denominated senior unsecured notes. The principal amounts, interest rates and other key terms of the offering will be determined at the time of pricing.

Sands China intends to use the net proceeds from the offering and cash on hand to redeem in full the outstanding principal amount of its US$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.

The notes have not been registered under the Securities Act of 1933, as amended (the "Securities Act"), or the securities laws of any other jurisdiction, and may be offered and sold only to professional investors (as defined in Chapter 37 of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited ("Hong Kong Listing Rules") that are qualified institutional buyers (in reliance on Rule 144A under the Securities Act) and/or non-U.S. Persons outside the United States (in reliance on Regulation S under the Securities Act)). None of the notes will be offered or sold to the public in Hong Kong and none of the notes will be placed to any connected person (as defined in the Hong Kong Listing Rules) of Sands China.

This press release shall not constitute an offer to sell, or the solicitation of an offer to buy, any securities, nor shall there be any sales of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.

Sands China proposes to seek a listing of the notes on the Hong Kong Stock Exchange and has received an eligibility letter from the Hong Kong Stock Exchange for the listing of the notes. Admission of the notes to the Hong Kong Stock Exchange is not to be taken as an indication of the merits of Sands China or the notes.

As no binding agreement in relation to the proposed offering of notes has been entered into as at the date of this press release, the proposed offering of notes may or may not materialize. Investors and shareholders of Las Vegas Sands Corp. and Sands China are urged to exercise caution when dealing in the securities of Las Vegas Sands Corp. and Sands China.

About Las Vegas Sands Corp. (NYSE: LVS)

Sands is the leading global developer and operator of integrated resorts. The company's iconic properties drive valuable leisure and business tourism and deliver significant economic benefits, sustained job creation, financial opportunities for local businesses and community investment to help make its host regions ideal places to live, work and visit.

Sands' portfolio of properties includes Marina Bay Sands^® in Singapore and The Venetian^® Macao, The Londoner Macao^®, The Parisian^® Macao, The Plaza^® Macao and Four Seasons^® Hotel Macao, and Sands^® Macao in Macao SAR, China, through majority ownership in Sands China Ltd.  

Dedicated to being a leader in corporate responsibility, Sands is anchored by the core tenets of serving people, communities and the planet.  The company's ESG leadership has led to inclusion on the Dow Jones Best-in-Class Indices for World and North America, as well as Fortune's list of the World's Most Admired Companies. 

About Sands China Ltd.

Sands China Ltd. (Sands China or the Company) is incorporated in the Cayman Islands with limited liability and is listed on The Stock Exchange of Hong Kong Limited (HKEx: 1928). Sands China is the largest operator of integrated resorts in Macao. The Company's integrated resorts on the Cotai Strip comprise The Venetian® Macao, The Plaza® Macao, The Parisian Macao and The Londoner® Macao. The Company also owns and operates Sands® Macao on the Macao peninsula. The Company's portfolio features a diversified mix of leisure and business attractions and transportation operations, including large meeting and convention facilities; a wide range of restaurants; shopping malls; world-class entertainment at The Venetian Arena, The Londoner Arena, The Venetian Theatre, The Parisian Theatre, the Londoner Theatre and the Sands Theatre; and a high-speed Cotai Water Jet ferry service between Hong Kong and Macao. The Company's Cotai Strip portfolio has the goal of contributing to Macao's transformation into a world centre of tourism and leisure. Sands China is a subsidiary of global resort developer Las Vegas Sands Corp. (NYSE: LVS).

Cautionary Note Regarding Forward-Looking Statements

This press release contains forward-looking statements made pursuant to the Safe Harbor Provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements involve a number of risks, uncertainties or other factors, which may cause material differences in actual results, performance or other expectations. These factors include, but are not limited to, current market demand for these types of securities and the securities of Sands China Ltd., Sands China Ltd.'s ability to consummate the offering in the currently anticipated timeframe or at all, and the negotiations between Sands China Ltd. and the initial purchasers. Forward-looking statements in this press release are based on information available to Sands China Ltd. and Las Vegas Sands Corp. at this time and each of Sands China Ltd. and Las Vegas Sands Corp. assumes no obligation to update such information.

View original content to download multimedia:https://www.prnewswire.com/news-releases/sands-china-announces-offering-of-senior-unsecured-notes-302920023.html

SOURCE Las Vegas Sands Corp.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What would Sands China use the proposed note offering proceeds for?

Sands China plans to combine net proceeds with cash on hand to redeem its US$700 million 2.300% senior notes due 2027, including accrued interest, and repay its 2024 SCL Revolving Facility balance. Uses also include general corporate purposes and capital expenditures.

Has Sands China finalized the proposed senior unsecured note offering?

No binding agreement has been entered into, and the offering may not materialize. Principal amounts, interest rates and other terms will be determined at pricing.

Who can buy Sands China's proposed senior unsecured notes?

The notes may be sold only to professional investors who are qualified institutional buyers under Rule 144A and/or non-U.S. persons outside the United States under Regulation S. They will not be offered to the Hong Kong public or placed with connected persons of Sands China.