Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers W > Headlines for Wynn Resorts Ltd./Wynn Las Vegas > News item |
Wynn Resorts calls its $250 million in 6% convertibles
By Susanna Moon
Chicago, June 15- Wynn Resorts Ltd. said it would redeem its $250 million outstanding principal amount of 6% convertible debentures due 2015.
The redemption date is July 20.
Before 5 p.m. ET on July 20, holders may convert debentures into common shares at a conversion price of $23 per share, or at a rate of 43.4782 shares per $1,000 principal amount of debentures.
The shares closed at $94.67 on June 14.
Debentures not converted by 5 p.m. ET on July 20 will be redeemed for a cash amount of $1,036 per $1,000 plus accrued interest.
On June 7, the company announced an equity repurchase program of up to $1.2 billion of stock and 6% convertible debentures due 2015.
The Las Vegas-based company owns and operates luxury hotel and 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.