Las Vegas Sands Corp is looking to raise $400 million in funds to help out with it’s current cash flow situation and hopefully restart it’s construction projects in Macau. The financially unstable company has announced that it will sell convertible bonds with a coupon as high as 16 percent to hedge funds and pension fund managers, prepared by the investment bank, Goldman Sachs Group.

The sale of these financial instruments is linked to raising $2.5 billion in a Hong Kong initial public offering of the Macau subsidiary of the Las Vegas based company. Investors will have the option to swap the bonds for those shares or hold them for further interest payments. .

On July 30, the company posted a $175.9 million second-quarter loss. Part of this loss was a reported lower than projected sale of its Shoppes at the Palazzo which opened amid a slump in travel to Las Vegas.

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