Wynn Macau Ltd loan facility extended for three years

Sep 23, 2024 Newsdesk Latest News, Macau, Top of the deck  

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Macau casino operator Wynn Macau Ltd says its lenders have agreed to extend the maturity date of some outstanding loans under an existing revolving facility for three years, to September 16, 2028.

The information was on a Monday filing to the Hong Kong Stock Exchange.

The casino firm announced in September 2021 a revolving loan facility of about US$1.50 billion, originally due in September 2025.

The deal involved Wynn Macau Ltd and a wholly-owned unit of the group, called WM Cayman Holdings Ltd II. Bank of China Ltd, Macau Branch, was identified as the agent for the deal which was provided by a syndicate of banks.

Wynn Macau Ltd runs the Wynn Macau resort (pictured) on the city’s peninsula, and Wynn Palace in the Cotai district. The company is a unit of U.S.-based casino developer Wynn Resorts Ltd.

“Customary extension fees and expenses will be paid by WM Cayman II in connection with the amended facility agreement and related agreements,” stated Wynn Macau Ltd in Monday’s filing.

According to previous corporate information, WM Cayman II “has the ability to upsize the total revolver … by an additional US$1.00 billion under the facility agreement and related agreements upon the satisfaction of various conditions”.

Wynn Macau Ltd announced in August an interim dividend of HKD0.075 (US$0.01) per share

The casino firm reported operating revenues of US$885.3 million for the second quarter, down 11.3 percent from the preceding quarter. The company said its second-quarter results were negatively impacted by a “slightly lower market share” and a “slightly lower mass hold quarter-over-quarter”.

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