Wynn Resorts prices US$1.8-bln private note offer
Casino operator and developer Wynn Resorts Ltd has announced the pricing for a private offering of US$1.8-billion worth of senior notes. The notes bear interest of 5.5 percent and become due in 2025.
Net proceeds from the offering – by Wynn Resorts units Wynn Las Vegas LLC and Wynn Las Vegas Capital Corp – will be used by Wynn Las Vegas LLC to purchase any of the issuers’ outstanding 7.75 percent notes in the principal amount of approximately US$1.23 billion that are due in 2020; and any outstanding 7.875 percent notes in the principal amount of US$377.01 million due in 2020.
Any remaining net proceeds from the offering will be used to redeem any 7.75 percent notes and 7.875 percent notes not tendered. Any residual proceeds after that will be used for general corporate purposes, the parent company said in a filing on Wednesday to Nasdaq.
Related articles
Sponsored Feature
Latest News
Features
-
Macau Peninsula to become 2nd-tier casino hub: analyst Macau’s traditional gaming zone on downtown peninsula... -
Manila casino attack gives sector pause Management at two major casino venues in the Philippine... -
Virtual sports, next big thing in Macau casino market? Hong Kong-listed casino equipment supplier Paradise... -
Still room for improvement at Studio City: pundits As Studio City – the US$3.2-billion, 2015 addition to... -
Fantan to baccarat: a new book on Macau gaming law Macau’s pacapio Chinese lottery game will celebrate its...
Sign up to our FREE Newsletter
(Click here for more)
Most Popular
Huge storm wreaks damage, disruption in Macau August 23, 2017 
China ban on foreign casino backing is vague: analysts August 22, 2017 
VIP growth tracking higher in August: brokerages August 22, 2017