Macau concessionaire Sands China Ltd has proposed a new notes offering to professional investors.
While the company has not yet priced the notes, it said in a Tuesday morning filing that it intends to use the proceeds to refinance its outstanding US$700 million 2.3% notes due 2027, to repay borrowings under its 2024 SCL Revolving Facility and to fund general corporate purposes, including capital expenditure.
Barclays Capital, BofA Securities and Goldman Sachs have been appointed as joint bookrunners for the proposed offering.
The notes issue comes after Sands China last week reported improved volumes across all gaming segments at its Macau integrated resorts, with total net revenues rising 1.4% year-on-year and 8.4% quarter-on-quarter to US$1.93 billion.
