Wynn Resorts cuts revolver to $750 million, extends some commitments

By Marisa Wong

Los Angeles, May 17 – Wynn Resorts, Ltd. announced that indirect wholly owned subsidiary Wynn Resorts Finance, LLC and some of its subsidiaries entered into an amendment to its existing credit agreement with Deutsche Bank AG New York Branch as administrative agent to reduce the aggregate amount of commitments under the revolving credit facility by $100 million to $750 million, according to an 8-K filing with the Securities and Exchange Commission.

The amendment also transitions the benchmark rate from Libor to term SOFR and makes some conforming changes.

The company extended the stated maturity date for lenders electing to extend their revolving commitments in an amount equal to about $681.3 million from Sept. 20, 2024 to Sept. 20, 2027 and extended the stated maturity date for lenders electing to extend their term loan commitments in an amount equal to roughly $749.4 million from Sept. 20, 2024 to Sept. 20, 2027.

Lenders who elected not to extend their revolving commitments in an amount equal to about $68.7 million will remain subject to a stated maturity date of Sept. 20, 2024, and lenders who elected not to extend their term loan commitments in an amount equal to roughly $75.6 million will remain subject to a stated maturity date of Sept. 20, 2024.

The hotel and casino company is based in Las Vegas.

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