Sands China $1.95 billion notes offering
We advised the joint book-running managers on the investment-grade debt offering
Davis Polk advised the joint book-running managers in connection with a Rule 144A / Regulation S notes offering by Sands China Ltd. of $700 million of its 2.300% senior notes due 2027, $650 million of its 2.850% senior notes due 2029 and $600 million of its 3.250% senior notes due 2031. Sands China intends to use the net proceeds from the offering to redeem in full its 4.600% notes due 2023.
Sands China, a subsidiary of Las Vegas Sands Corp., is a leading developer, owner and operator of multi-use integrated resorts and casinos in Macao. Sands China developed, owns and operates The Venetian Macao, The Londoner Macao, The Parisian Macao, The Plaza Macao and Sands Macao. It also owns Cotai Expo, one of the largest convention and exhibition centers in Asia, as well as Macao’s largest entertainment venue, the Cotai Arena.
The Davis Polk capital markets team included partner Derek Dostal and associates Chris Van Buren and Lincoln Jim. The tax team included partner Mario J. Verdolini and associate April Filtz. The Hong Kong team included partner Gerhard Radtke and associate Jennifer Liu. Members of the Davis Polk team are based in the New York and Hong Kong offices.