Wynn Resorts 6% convertibles holders share in additional distribution

By Jennifer Chiou

New York, Nov. 17 - Wynn Resorts, Ltd. said it will make a special payment to holders of its 6% convertible subordinated debentures due 2015 as part of an already announced $6.00 per share special cash distribution on its stock.

The Las Vegas gaming company noted it will pay $260.87 per $1,000 principal amount in order for noteholders to participate in the special distribution to the same extent as if they had converted their debentures to common stock.

The payment date is Dec. 4.

As a result of the payment, no adjustment will be made to the conversion price of the debentures.

© 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.