• Subscribe
  • Magazines
  • About
  • Contact
  • Advertise
Sunday 20 July 2025
  • zh-hant 中文
  • ja 日本語
  • en English
IAG
Advertisement
  • Newsfeed
  • Mag Articles
  • Video
  • Opinion
  • Tags
  • Regional
    • Africa
    • Australia
    • Cambodia
    • China
    • CNMI
    • Europe
    • Hong Kong
    • India
    • Japan
    • Laos
    • Latin America
    • Malaysia
    • Macau
    • Nepal
    • New Zealand
    • North America
    • North Korea
    • Philippines
    • Russia
    • Singapore
    • South Korea
    • Sri Lanka
    • Thailand
    • UAE
    • Vietnam
  • Events
  • Contributors
  • SUBSCRIBE FREE
No Result
View All Result
IAG
  • Newsfeed
  • Mag Articles
  • Video
  • Opinion
  • Tags
  • Regional
    • Africa
    • Australia
    • Cambodia
    • China
    • CNMI
    • Europe
    • Hong Kong
    • India
    • Japan
    • Laos
    • Latin America
    • Malaysia
    • Macau
    • Nepal
    • New Zealand
    • North America
    • North Korea
    • Philippines
    • Russia
    • Singapore
    • South Korea
    • Sri Lanka
    • Thailand
    • UAE
    • Vietnam
  • Events
  • Contributors
  • SUBSCRIBE FREE
No Result
View All Result
IAG
No Result
View All Result

Las Vegas Sands issues US$1.75 billion in notes to pay down looming debt maturity

Newsdesk by Newsdesk
Wed 8 May 2024 at 07:00
Macau Gaming Law series part 13: Provisions regarding other jurisdictions can cause legal conflict

Marina Bay Sands, Singapore.

27
SHARES
681
VIEWS
Print Friendly, PDF & Email

Las Vegas Sands Corp, the parent company of Singapore’s Marina Bay Sands and controlling shareholder in Macau concessionaire Sands China, has launched a series of unsecured notes offerings, with proceeds to refinance its US$1.75 billion 3.2% unsecured notes due June 2024.

The notes are being offered across three tranches totaling US$1.75 billion, including US$750 million 5.900% Senior Notes due 2027, US$500 million 6.000% Senior Notes due 2029 and US$500 million 6.200% Senior Notes due 2034.

In a research note issued shortly before LVS confirmed pricing, CBRE Credit Research analyst Colin Mansfield said he expected the transaction to be leverage neutral or marginally de-leveraging for LVS, adding that the company is in a good position to tap the debt capital markets to address its 2024 maturity given the ongoing recovery in Macau, strength in Singapore, and subsequent de-leveraging due to EBITDA growth.

“This issuance was well-anticipated and with the 2024 maturity resolved, LVS’s focus in 2H24 can begin to turn to the US$1.8 billion maturing at Sands China Ltd in 2025 (as well as another US$500 million at LVS level),” he said.

“LVS should be a regular unsecured issuer over the next few years and the credit profile provides exposure to two strong, global gaming jurisdictions, a prudently managed balance sheet and shareholder return strategy, and modest leverage.”

Mansfield noted that LVS had improved its gross leverage from 3.6x to 3.3x in 1Q24, primarily on EBITDA growth, adding he expects leverage to continue to decline over the coming quarters.

RelatedPosts

Inside Thai IRs

Las Vegas Sands’ Patrick Dumont says Thailand needs “regulatory clarity, long-term vision” to fulfil entertainment complex ambitions

Fri 18 Jul 2025 at 06:02
American poker pro Michael Mizrachi just completed the greatest feat in poker history

American poker pro Michael Mizrachi just completed the greatest feat in poker history

Thu 17 Jul 2025 at 11:38
Veiled message for Thailand as Singapore’s Prime Minister hails visionary “risk” leaders took in approving casino development

Veiled message for Thailand as Singapore’s Prime Minister hails visionary “risk” leaders took in approving casino development

Thu 17 Jul 2025 at 06:06
Marina Bay Sands said to be seeking US$9 billion loan facility for expansion, largest in Singapore history

Marina Bay Sands breaks ground on massive US$8 billion expansion project

Wed 16 Jul 2025 at 06:04
Load More
Tags: CBRE Equity ResearchdebtLas Vegas Sands CorpleverageMarina Bay SandsNorth AmericaSands Chinasenior notes
Share11Share2
Newsdesk

Newsdesk

The IAG Newsdesk team comprises some of the most experienced journalists in the Asian gaming industry. Offering a broad range of expertise, their decades of combined know-how spans multiple countries across a variety of topics.

Current Issue

Editorial – An inconvenient truth

Editorial – An inconvenient truth

by Ben Blaschke
Fri 27 Jun 2025 at 15:21

It’s understandable that political observers, academics and members of the public in greenfield jurisdictions would express caution around the legalization...

Light & Wonder’s Siobhan Lane

Light & Wonder’s Siobhan Lane

by Ben Blaschke
Fri 27 Jun 2025 at 15:19

Siobhan Lane, Light & Wonder’s highly experienced CEO of Gaming, speaks to Inside Asian Gaming about the company’s ongoing transformation...

Honesty is the best policy

Honesty is the best policy

by Ben Blaschke
Fri 27 Jun 2025 at 14:13

The Thailand Entertainment Complex Roundtable brought industry stakeholders, politicians and supporters of the government’s Entertainment Complex Bill face to face...

Sri Lanka’s casino industry

Sri Lanka’s casino industry

by Shaun McCamley
Fri 27 Jun 2025 at 13:36

Industry veteran Shaun McCamley delves into the complex history of Sri Lanka’s casino industry at a time when the country...

Evolution Asia
Your browser does not support HTML5 video.
Aristocrat
GLI
Nustar
SABA
Mindslot
Solaire
Hann
Tecnet
NWR
Jumbo
568Win

Related Posts

DICJ keeps Macau casinos open during Typhoon Wipha for fear of guests going outside, border checkpoints shut down

DICJ keeps Macau casinos open during Typhoon Wipha for fear of guests going outside, border checkpoints shut down

by Ben Blaschke
Sun 20 Jul 2025 at 13:20

Macau’s gaming regulator – the Gaming Inspection and Coordination Bureau (DICJ) – said Sunday that it had decided not to order the closure of casinos at the height of Typhoon Wipha due to concerns that such closures could encourage guests...

Light & Wonder sets new US$2 billion Adjusted EBITDA target for 2028

Light & Wonder granted Gaming-Related Vendor License in UAE

by Newsdesk
Sun 20 Jul 2025 at 07:33

Light & Wonder, Inc said Friday that it has been granted a gaming-related vendor license by the General Commercial Gaming Regulatory Authority (GCGRA) of the United Arab Emirates, making it the 13th industry supplier to be granted a gaming-related vendor...

Hong Kong Jockey Club says racing turnover grew 3% to US$17.7 billion in 2024/25 season

Hong Kong Jockey Club says racing turnover grew 3% to US$17.7 billion in 2024/25 season

by Newsdesk
Sun 20 Jul 2025 at 07:31

The Hong Kong Jockey Club has reported a return to growth for the local racing industry with total racing wagering turnover in the 2024/25 Hong Kong season rising 3.0% to HK$138.85 billion (US$17.7 billion). This compares to a 4.5% decline...

Early Mover

Philippines SEC gives approval to Hann’s US$200 million IPO

by Newsdesk
Sun 20 Jul 2025 at 07:09

The Philippines’ Securities and Exchange Commission (SEC) has approved the initial public offering (IPO) of Hann Holdings Inc – the holding company of Clark’s Hann Casino Resort. In a statement issued Friday, the SEC said it had “considered favorably” Hann’s...



IAG

© 2005-2024
Inside Asian Gaming.
All rights reserved.

  • SUBSCRIBE FREE
  • NEWSFEED
  • MAG ARTICLES
  • VIDEO
  • OPINION
  • TAGS
  • REGIONAL
  • EVENTS
  • CONSULTING
  • CONTRIBUTORS
  • MAGAZINES
  • ABOUT
  • CONTACT
  • ADVERTISE

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Add New Playlist

No Result
View All Result
  • Subscribe
  • Newsfeed
  • Mag Articles
  • Video
  • Opinion
  • Tags
  • Regional
  • Events
  • Contributors
  • Magazines
  • Advertise
  • Contact
  • About
  • Home for G2E Asia

© 2005-2024
Inside Asian Gaming.
All rights reserved.

  • English