By Devika Patel
Knoxville, Tenn., Nov. 22 – Las Vegas Sands Corp. offered further details about a $500 million sale of 2.9% senior notes due June 25, 2025 (Baa3/BBB-/BBB-) that were sold in a registered offering on Thursday at a spread of 130 basis points over Treasuries, according to an FWP filed with the Securities and Exchange Commission.
The notes priced at 99.875 to yield 2.924%.
Initial price talk was in the Treasuries plus 145 bps area.
The bookrunners were Barclays, BofA Securities, Inc., Goldman Sachs & Co. LLC, BNP Paribas Securities Corp., Fifth Third Securities Inc., Scotia Capital (USA) Inc. and SMBC Nikko Securities America Inc.
Proceeds will be used for general corporate purposes.
Las Vegas Sands is a Las Vegas-based developer and operator of integrated resorts.
| Issuer: | Las Vegas Sands Corp.
|
| Amount: | $500 million
|
| Description: | Senior notes
|
| Maturity: | June 25, 2025
|
| Bookrunners: | Barclays, BofA Securities, Inc., Goldman Sachs & Co. LLC, BNP Paribas Securities Corp., Fifth Third Securities Inc., Scotia Capital (USA) Inc. and SMBC Nikko Securities America Inc.
|
| Coupon: | 2.9%
|
| Price: | 99.875
|
| Yield: | 2.924%
|
| Spread: | Treasuries plus 130 bps
|
| Call: | Make-whole call at Treasuries plus 20 bps until May 25, 2025, then a par call
|
| Trade date: | Nov. 21
|
| Settlement date: | Nov. 25
|
| Ratings: | Moody’s: Baa3
|
| S&P: BBB-
|
| Fitch: BBB-
|
| Distribution: | SEC registered
|
| Price guidance: | Treasuries plus 145 bps area
|
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