Investors shrug off gaming sector concerns to buy Sands China’s bonds

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By Morgan Davis
03 Jun 2020

Casino developer Sands China paid no new issue premium for its $1.5bn bond on Tuesday, despite the effects of the Covid-19 pandemic on the gaming industry.

The long five year notes were initially marketed in the 437.5bp over US Treasuries area, and the 10 year bonds in the 475bp over US Treasuries area on Tuesday morning local time.

Bank of America, Barclays and Goldman Sachs were the active bookrunners on the 144A/Reg S transaction. ...

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