SANDS CHINA (01928.HK): Proposes US Dollar Senior Notes to Redeem US$700m 2027 Notes

NewTimeSpace News: On 27 October 2026, Sands China Ltd. (stock code: 1928) announced a proposed offering of US dollar-denominated unsecured senior notes to professional investors, with Barclays Capital Inc., BofA Securities, Inc. and Goldman Sachs & Co. LLC appointed as joint bookrunners.

Pricing will be determined through a bookbuilding process conducted by the joint bookrunners; as at the date of the announcement, the aggregate principal amount, terms and conditions of the notes had not been determined. The notes, once issued, are repayable at maturity unless redeemed or repurchased earlier under their terms. Upon finalisation of the terms, the initial purchasers and the Company are expected to enter into a purchase agreement, and a further announcement will be made if a binding agreement is signed.

The notes have not been registered under the US Securities Act or any other securities laws and may only be offered and sold to professional investors that are qualified institutional buyers under Rule 144A and/or to non-US persons outside the United States under Regulation S. They will not be offered or sold to the public in Hong Kong and will not be placed with any connected persons of the Company.

If issued, the Company intends to use the net proceeds, together with cash on hand, to redeem in full the outstanding principal of, and accrued interest on, its US$700 million 2.300% senior notes due 8 March 2027, to repay the outstanding balance under the 2024 SCL revolving facility, and for general corporate purposes including capital expenditure. That facility is the HK$19,500,000,000 unsecured revolving credit facility entered into in October 2024 (about US$2.49 billion at the 30 June 2026 exchange rate). The Company intends to seek a listing of the notes on the Stock Exchange and has received an eligibility letter; as no binding agreement has been entered into, the offering may not proceed.