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Wynn Resorts launches tender offer for 7¾% senior notes due 2025
By Marisa Wong
Los Angeles, Feb. 9 – Wynn Resorts Ltd. announced that indirect wholly owned subsidiary Wynn Resorts Finance, LLC has begun a cash tender offer for any and all of its outstanding $600 million 7¾% senior notes due 2025 jointly issued with Wynn Resorts Capital Corp.
Wynn Resorts Finance is offering to purchase the notes at $1,024.50 for each $1,000 principal amount, according to a press release.
The offer is set to expire at 5 p.m. ET on Feb. 15. Settlement is expected to occur one business day after that.
Tenders may be withdrawn at any time at or prior to the expiration time.
The tender offer is conditioned on Wynn Resorts Finance and Wynn Resorts Capital completing new debt financing. The companies announced an offering of new senior notes due 2031 on Thursday.
Deutsche Bank Securities Inc. (855 287-1922 or 212 250-7527) is the dealer manager for the tender offer.
The tender and information agent is D.F. King & Co., Inc. (http://www.wynn@dfking.com; 800 431-9646 or 212 269-5550 for banks and brokers).
The hotel and casino company is based in Las Vegas.
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