{"id":22946,"date":"2021-09-24T08:46:06","date_gmt":"2021-09-24T11:46:06","guid":{"rendered":"https:\/\/focusgn.com\/asia-pacific\/?p=22946"},"modified":"2026-04-23T15:22:52","modified_gmt":"2026-04-23T18:22:52","slug":"sands-china-completes-issue-of-us1-95bn-in-senior-notes","status":"publish","type":"post","link":"https:\/\/focusgn.com\/asia-pacific\/sands-china-completes-issue-of-us1-95bn-in-senior-notes","title":{"rendered":"Sands China completes issue of US$1.95bn in senior notes"},"content":{"rendered":"\n<p>Sands China has announced it has finished the issuance of new unsecured notes to redeem in full the outstanding principal amount of its US$1.80bn 4.6 per cent senior notes due 2023.<\/p>\n\n\n\n<!--more-->\n\n\n\n<p>Macau.- Casino operator\u00a0<strong>Sands China<\/strong>\u00a0has announced it has finally listed US$1.95bn in senior notes. The operation was <a rel=\"noreferrer noopener\" target=\"_blank\" href=\"https:\/\/focusgn.com\/asia-pacific\/sands-china-to-list-us1-95bn-in-senior-notes\">announced on September 10<\/a>, when the company said <strong>it had signed purchase agreements with Barclays Capital, Bank of America Securities and Goldman Sachs\u00a0<\/strong>as representatives of the initial purchasers of the notes.\u00a0<\/p>\n\n\n\n<p>The procedure was divided into three tranches. The first consists of\u00a0<strong>US$700m<\/strong>, an annual interest rate of 2.3 per cent, and a maturity date of March 2027.\u00a0<strong>The second phase totals US$650m<\/strong>, with an interest rate of 2.85 per cent and expiry in March 2029.\u00a0<strong>The third, US$600m<\/strong>, has an annual interest rate of 3.25 per cent, due in August 2031.\u00a0<\/p>\n\n\n\n<p>The company said it would use the money to\u00a0<strong>redeem in full the outstanding principal amount of its US$1.80bn\u00a0<\/strong>4.6 per cent senior notes due 2023.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Sands China gaming stocks plummet after proposed new gaming laws<\/h2>\n\n\n\n<p>Reports of a\u00a0<a rel=\"noreferrer noopener\" target=\"_blank\" href=\"https:\/\/focusgn.com\/asia-pacific\/macau-consultation-on-gaming-law-to-open-on-september-15\">possible change in current gaming laws<\/a>\u00a0caused Macau casino operators stocks to fall sharply. Sands China saw a 32.51 per cent drop in its shares.<\/p>\n\n\n\n<p>According to analysts,&nbsp;<strong>the drop could also be related to fears surrounding a possible new Covid-19 surge&nbsp;<\/strong>as cases have risen in China in recent days.&nbsp;<strong>Brokerage JP Morgan Securities<\/strong>&nbsp;has downgraded Macau gaming stocks from \u201coverweight\u201d to \u201cneutral\/underweight\u201d.<\/p>\n\n\n\n<p><strong>A group of experts and analysts consulted&nbsp;<\/strong>by Macau News Agency believe the market reaction to possible changes to Macau\u2019s gaming laws&nbsp;<strong>was excessive<\/strong>.<\/p>\n\n\n\n<p><strong>Carlos Siu Lam<\/strong>, Macao Polytechnic Institute gaming industry researcher, said that the level of investor pessimism was excessive, adding that the situation has improved when compared to the last year when the Covid-19 pandemic started.<\/p>\n\n\n\n<p>He said the gaming law proposals were not surprising, saying: \u201cthe money laundering regulations,&nbsp;<a target=\"_blank\" href=\"https:\/\/focusgn.com\/asia-pacific\/macau-may-double-its-number-of-gaming-inspectors\" rel=\"noreferrer noopener\">the new structure of Gaming Inspection and Coordination Bureau (DICJ)<\/a>&nbsp;in mid-June. With the appointment of new chiefs, DICJ is better prepared for the future.\u201d<\/p>\n\n\n\n<p><strong>Alidad Tash<\/strong>, managing director at 2nt8 Limited, also said the proposed changes were no surprise. However, he admitted the lack of clarity around the government\u2019s intentions had brought uncertainty.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Sands China has announced it has finished the issuance of new unsecured notes to redeem in full the outstanding principal amount of its US$1.80bn 4.6 per cent senior notes due 2023.<\/p>\n","protected":false},"author":176,"featured_media":22505,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"is_press_release":false,"is_interview":false,"is_opinion":false,"focusai_summary":"Sands China successfully completed a US$1.95bn senior notes issuance across three tranches to refinance its US$1.80bn senior notes due 2023. Concurrently, the company's shares experienced a significant decline following reports of potential new gaming laws in Macau, exacerbated by concerns over a new COVID-19 surge. Industry analysts suggest the market's reaction to the regulatory proposals may be excessive, noting that some changes were anticipated.","focusai_entities":"Sands China, Barclays Capital, Bank of America Securities, Goldman Sachs, JP Morgan Securities, Carlos Siu Lam, Macao Polytechnic Institute, 2nt8 Limited, Alidad Tash, Gaming Inspection and Coordination Bureau (DICJ)","focusai_location":"Macau, China","focusai_target_profile":"ceo_executive (1.0), regulator (0.9), compliance_legal (0.8), operator_casino (1.0), investor_analyst (1.0), supplier_vendor (0.7), journalist_researcher (1.0)","focusai_suggestions":[{"label":"Refinancing Impact","query":"What are the long-term implications of Sands China's debt refinancing strategy, particularly the lower interest rates and extended maturities, on its capital structure and future profitability amidst Macau's evolving regulatory landscape?"},{"label":"Macau Regulatory Outlook","query":"Given the market's 'excessive' reaction to proposed gaming law changes, what specific amendments are anticipated, and how might these regulatory shifts fundamentally alter the B2C licensing framework and governance for Macau's concessionaires?"}],"footnotes":""},"categories":[157,16338],"tags":[23906,21680],"class_list":["post-22946","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business-news","category-east-asia-news","tag-macau-casinos","tag-sands-china"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/22946","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/users\/176"}],"replies":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/comments?post=22946"}],"version-history":[{"count":2,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/22946\/revisions"}],"predecessor-version":[{"id":22955,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/22946\/revisions\/22955"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/22505"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=22946"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=22946"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=22946"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}