Loan & DebtMay 13, 2026, 04:14 PM
Las Vegas Sands Issues $1B Senior Notes, Refinances 2026 Debt
AI Summary
Las Vegas Sands Corp. completed a public offering of $1 billion in senior notes, consisting of $500 million of 5.300% Senior Notes due 2031 and $500 million of 5.650% Senior Notes due 2033. The company intends to use the net proceeds from this offering, combined with cash on hand, to fully redeem its outstanding $1.0 billion aggregate principal amount of 3.500% Senior Notes due August 2026, cover transaction fees, and for general corporate purposes. The new notes are unsecured, senior obligations and are redeemable by the company under specified conditions.
Key Highlights
- Las Vegas Sands Corp. completed a public offering of $500 million of 5.300% Senior Notes due 2031.
- The company also issued $500 million of 5.650% Senior Notes due 2033, totaling $1 billion in new debt.
- The 2031 Notes mature on May 15, 2031, with interest payable semi-annually.
- The 2033 Notes mature on May 18, 2033, with interest payable semi-annually.
- Net proceeds, along with cash on hand, will redeem $1.0 billion of 3.500% Senior Notes due August 2026.
- The new notes are unsecured, senior obligations and rank equally with other unsecured debt.
- The company may redeem the notes prior to their respective Par Call Dates at a specified redemption price.