Press release
Wynn Resorts Announces Closing of Private Offering of Wynn Resorts Finance, LLC’s and Wynn Resorts Capital Corp.’s 5.125% Senior Notes due 2029 and Wynn Resorts Finance, LLC’s Senior Secured Credit Facilities and Completion of Internal Restructuring
LAS VEGAS--(BUSINESS WIRE)-- Wynn Resorts, Limited (“Wynn Resorts”) (NASDAQ: WYNN) announced today the completion by Wynn Resorts Finance, LLC (formerly
About this update from Wynn Resorts, Limited
[{"type":"text","content":" LAS VEGAS--(BUSINESS WIRE)--\nWynn Resorts, Limited (“Wynn Resorts”) (NASDAQ: WYNN) announced today the completion by Wynn Resorts Finance, LLC (formerly known as Wynn America, LLC) (“Wynn Resorts Finance”) and its subsidiary Wynn Resorts Capital Corp. (“Wynn Resorts Capital” and, together with Wynn Resorts Finance, the “Issuers”), each an indirect wholly-owned subsidiary of Wynn Resorts, of their previously announced private offering of $750 million aggregate principal amount of 5.125% Senior Notes due 2029 (the “Notes”).\n\n\nConcurrently with the issuance of the Notes, Wynn Resorts Finance (i) entered into a new first lien term loan A facility in an aggregate principal amount of $1,000 million and a new revolving first lien credit facility in an aggregate principal amount of $850 million (together, the “Senior Secured Credit Facilities”) and (ii) underwent an internal restructuring, as a result of which, Wynn Resorts Finance holds all of Wynn Resorts’ ownership interests in Wynn Las Vegas, LLC, which owns and operates the Wynn Las Vegas integrated resort in Las Vegas, Nevada (excluding certain leased retail space that is owned by Wynn Resorts directly), in Wynn Group Asia, which beneficially owns Wynn Resorts’ approximately 72% controlling interest in Wynn Macau, Limited, and in Wynn MA, LLC, which owns and operates the Encore Boston Harbor integrated resort in Everett, Massachusetts.\n\n\nWynn Resorts Finance used the net proceeds from the offering, together with borrowings under the Senior Secured Credit Facilities, to (i) refinance the existing credit facilities of Wynn Resorts and Wynn America, LLC and (ii) pay related fees and expenses.\n\n\nThe Notes have not been and will not be registered under the Securities Act of 1933, as amended (the “Securities Act”) or under any state securities laws. Therefore, the Issuers may not offer or sell the Notes within the United States to, or for the account or benefit of, any United States person unless the offer or sale would qualify for a registration exemption from the Securities Act and applicable state securities laws.\n\n\nThis press release does not constitute an offer to sell or a solicitation of an offer to buy the Notes described in this press release, nor shall there be any sale of the Notes in any state or jurisdiction in which such an offer, sale or solicitation would b...