Macau casino concessionaire Wynn Macau Ltd announced on Wednesday an offering of US$1.0 billion in aggregate principal amount of 6.750-percent senior notes, due in 2034. Interest will accrue from August 19, 2025, stated the firm in a filing to the Hong Kong bourse.
The company said that on Tuesday it had reached a purchase agreement with Deutsche Bank AG, Singapore Branch, as representative of the initial purchasers, and the initial purchasers in connection with the issuance of the senior notes.
The casino firm estimates that the net proceeds from the offering –deducting discounts of the initial purchasers and estimated offering expenses – will be about US$989.0 million.
The company intends to apply the net proceeds from the proposed offering for general corporate purposes. The latter would include to “repay outstanding indebtedness”, such as under the firm’s “WM Cayman II Revolver and/or one or more series of the existing notes”.
In a previous filing, Wynn Macau Ltd said its board believes there would be “significant benefit” to the company, as using the net proceeds for the intended purpose “would extend the maturity profile of the group’s indebtedness”.
Wynn Macau Ltd operates the Wynn Macau casino hotel (pictured) on the city’s peninsula, and Wynn Palace in the Cotai district. The firm is a subsidiary of U.S.-based casino operator Wynn Resorts Ltd.
Management at the Wynn group said last week that the Macau unit is spending up to US$250 million this year on concession-related investment commitments made to the local government, including upgrades to the hotel tower at Wynn Macau and on its Wynn Palace resort on Cotai.
The group has also earmarked between US$450 million to US$500 million for Macau-concession related capital expenditure in 2026, according to an investor presentation issued along with the second-quarter results.
The list of concession-related projects includes “Wynn Palace Event and Entertainment Center,” and “Wynn Palace Theater and Resident Show”.
