Press release
Wynn Resorts Announces Commencement of Tender Offer for Cash by Wynn Las Vegas, LLC for its 5.500% Senior Notes due 2025
LAS VEGAS--(BUSINESS WIRE)-- Wynn Resorts, Limited (NASDAQ:WYNN) (“Wynn Resorts”) announced today that its indirect wholly-owned subsidiary, Wynn Las Vegas,
About this update from Wynn Resorts, Limited
[{"type":"text","content":" LAS VEGAS--(BUSINESS WIRE)--\nWynn Resorts, Limited (NASDAQ:WYNN) (“Wynn Resorts”) announced today that its indirect wholly-owned subsidiary, Wynn Las Vegas, LLC (“Wynn Las Vegas”) has commenced a cash tender offer (the “Tender Offer”) to purchase a portion of Wynn Las Vegas and Wynn Las Vegas Capital Corp.’s (collectively, the “Issuers”) 5.500% Senior Notes due 2025 (the “Notes”) in a principal amount of up to $800 million, exclusive of any applicable premiums paid in connection with the Tender Offer and accrued and unpaid interest. The terms and conditions of the Tender Offer are set forth in an Offer to Purchase, dated February 8, 2024 (the “Offer to Purchase”), which is being sent to all registered holders (collectively, the “Holders”) of Notes.\n\n\n\n\nTitle of\nSecurity\n\n\n\n\n\n\nIssuers\n\n\n\n\n\n\nCUSIP\nNumbers (1)\n\n\n\n\n\n\nPrincipal\nAmount\nOutstanding (2)\n\n\n\n\n\n\nTender Cap\n\n\n\n\n\n\nBase\nConsideration (3)(4)\n\n\n\n\n\n\nEarly Tender\nPremium (3)\n\n\n\n\n\n\nTotal\nConsideration (3)(4)\n\n\n\n\n\n\n\n\n5.500% Senior Notes due 2025\n\n\n\n\n\n\nWynn Las Vegas, LLC\n\n\n\n\nWynn Las Vegas Capital Corp.\n\n\n\n\n\n\n983130 AV7\n\n\n\n\nU98347 AK0\n\n\n\n\n\n\n$1,400,001,000\n\n\n\n\n\n\n$800,000,000\n\n\n\n\n\n\n$972.17\n\n\n\n\n\n\n$30.00\n\n\n\n\n\n\n$1,002.17\n\n\n\n\n\n\n\n(1) No representation is made as to the correctness or accuracy of the CUSIP numbers listed in this press release, the Offer to Purchase or printed on the Notes. They are provided solely for the convenience of Holders of the Notes.\n(2) Includes $20.0 million in principal balance of Notes held by Wynn Resorts. Wynn Resorts will not participate in this Offer.\n(3) Per $1,000 principal amount of Notes.\n(4) Excludes Accrued Interest, which will be paid in addition to the Base Consideration or the Total Consideration, as applicable.\n\n\nHolders of Notes must validly tender and not validly withdraw their Notes on or before 5:00 p.m., New York City time, on February 22, 2024, unless extended (such date and time, as the same may be extended, the “Early Tender Time”) in order to be eligible to receive the Total Consideration. Holders of Notes who validly tender their Notes after the Early Tender Time and on or before the Expiration Time (as defined below) will be eligible to receive only the applicable Base Consideration, which is e...