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Wynn Las Vegas talks $1.75 billion 10-year bullet in 5 3/8% area
By Paul A. Harris
Portland, Ore., Feb. 10 – Wynn Las Vegas, LLC and Wynn Las Vegas Capital Corp. talked a $1.75 billion offering of non-callable 10-year senior notes (Ba2/BBB-/BB) to yield in the 5 3/8% area on Tuesday.
The Rule 144A and Regulation S for life deal, which was announced earlier Tuesday, is set to price Wednesday morning.
Deutsche Bank Securities Inc. is the left bookrunner. BofA Merrill Lynch, Credit Agricole CIB, Fifth Third, Scotia Capital and SunTrust Robinson Humphrey are the joint bookrunners.
BOC, BNP Paribas, Morgan Stanley & Co., SMBC Nikko and UBS Investment Bank are the co-managers.
The Las Vegas-based company plans to use the proceeds to fund tenders for its 7¾% and 7 7/8% notes due 2020.
Wynn Las Vegas is a wholly owned subsidiary of Wynn Resorts, Ltd., a developer, owner and operator of destination casino resorts.
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