Wynn Resorts to launch $1.25 billion credit facility on April 24

By Sara Rosenberg

New York, April 17 - Wynn Resorts Ltd. is scheduled to hold a bank meeting on April 24 to launch its proposed $1.25 billion equivalent senior secured credit facility, according to market sources.

Bank of America, Deutsche Bank and Soc Gen are global coordinating lead arrangers on the deal.

The facility consists of a $500 million equivalent revolver that will be available in U.S. and Hong Kong dollars, a $250 million equivalent Hong Kong dollar delayed-draw term loan A, a $250 million equivalent Hong Kong dollar funded term loan B and a $250 million U.S. dollar funded term loan C, sources said.

Price talk on all tranches is said to be Libor plus 175 basis points, sources added.

Proceeds will be used to develop the Wynn Macau.

Wynn is a Las Vegas-based developer, owner and operator of destination casino resorts.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.