Press release
Wynn Resorts Announces Early Results and Upsizing 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”) today announced the early results and upsizing of the previously announced
About this update from Wynn Resorts, Limited
[{"type":"text","content":" LAS VEGAS--(BUSINESS WIRE)--\nWynn Resorts, Limited (NASDAQ: WYNN) (“Wynn Resorts”) today announced the early results and upsizing of the previously announced tender offer (the “Tender Offer”) by its indirect wholly-owned subsidiary, Wynn Las Vegas, LLC, to purchase a portion of Wynn Las Vegas, LLC and Wynn Las Vegas Capital Corp.’s outstanding 5.500% Senior Notes due 2025 (the “Notes”). Wynn Las Vegas, LLC has amended the terms of the Tender Offer to increase the aggregate principal amount of Notes subject to the Tender Offer (the “Tender Cap”) from $300,000,000 to $400,000,000. The Tender Offer is subject to the terms and conditions set forth in the Offer to Purchase dated August 10, 2023 (as amended by this press release and as it may be further amended or supplemented from time to time, the “Offer to Purchase”).\n\n\nThe following table sets forth, among other things, the principal amount of Notes validly tendered and accepted for purchase as of 5:00 p.m., New York City time, on August 23, 2023 (such date, the “Early Tender Date”):\n\n\n\n\nTitle of Notes\n\n\n\n\n\n\nCUSIP Numbers\n\n\n\n\n\n\nAggregate Principal Amount Outstanding\n\n\n\n\n\n\nTender Cap (as amended)\n\n\n\n\n\n\nPrincipal Amount Tendered at Early Tender Date\n\n\n\n\n\n\nPrincipal Amount Accepted for Purchase\n\n\n\n\n\n\n\n\n5.500% Senior Notes due 2025\n\n\n\n\n\n\n983130 AV7\n\n\n\n\nU98347 AK0\n\n\n\n\n\n\n$1,780,000,000\n\n\n\n\n\n\n$400,000,000\n\n\n\n\n\n\n$684,014,000\n\n\n\n\n\n\n$400,000,000\n\n\n\n\n\n\n\nSince the aggregate principal amount of the Notes validly tendered and not validly withdrawn at or prior to the Early Tender Date exceeds the Tender Cap (as amended), Notes tendered after the Early Tender Date will not be accepted for purchase and the principal amount of the Notes accepted for purchase were prorated, on the terms and subject to the conditions of the Tender Offer, to the Tender Cap (as amended). Withdrawal and revocation rights expired at 5:00 p.m., New York City time, on August 23, 2023. Notes that have been tendered may no longer be withdrawn.\n\n\nAll Notes validly tendered (and not validly withdrawn) at or prior to the Early Tender Date and accepted for purchase will be purchased by Wynn Las Vegas, LLC on the “Early Settlement Date,” which is currently expected to occur on August 24, 2023. Payment for the Notes that are pu...