Press release
Wynn Resorts Announces Initial Settlement of Tender Offer for Cash by Wynn Resorts Finance, LLC for Any and All of its 7.750% Senior Notes due 2025
LAS VEGAS--(BUSINESS WIRE)-- Wynn Resorts, Limited (NASDAQ:WYNN) (“Wynn Resorts”) announced today the initial settlement of the previously announced cash
About this update from Wynn Resorts, Limited
[{"type":"text","content":" LAS VEGAS--(BUSINESS WIRE)--\nWynn Resorts, Limited (NASDAQ:WYNN) (“Wynn Resorts”) announced today the initial settlement of the previously announced cash tender offer (the “Tender Offer”) by its indirect wholly-owned subsidiary, Wynn Resorts Finance, LLC, (“Wynn Resorts Finance”), for any and all of the outstanding $600 million aggregate principal amount of 7.750% Senior Notes due 2025 (the “2025 Notes”) of Wynn Resorts Finance and Wynn Resorts Capital Corp.\n\nThe Tender Offer is expired at 5:00 P.M., New York City time, on February 15, 2023 (the “Expiration Time”). At the Expiration Time, valid tenders had been received with respect to approximately $506.4 million of the $600 million aggregate principal amount of 2025 Notes outstanding (which excludes 2025 Notes subject to the guaranteed delivery procedures).\n\nWynn Resorts Finance has accepted for payment all 2025 Notes validly tendered prior to the Expiration Date. On February 16, 2023, such tendering Holders received the tender offer consideration in the amount of $1,024.50 for each $1,000 principal amount of 2025 Notes, plus accrued and unpaid interest from the last interest payment date to, but excluding, the date hereof. With respect to 2025 Notes accepted for purchase that were tendered and are subsequently delivered in accordance with the guaranteed delivery procedures, such tendering Holders will receive payment of the tender offer consideration for such accepted 2025 Notes (to the extent such 2025 Notes were not delivered prior to the Expiration Time) on February 21, 2023, plus accrued and unpaid interest from the last interest payment date to, but excluding, the date hereof.\n\nD.F. King & Co., Inc. acted as the information agent and tender agent.\n\nThis press release shall not constitute an offer to purchase or the solicitation of an offer to sell the 2025 Notes. The Tender Offer was conducted in accordance with terms and subject to the conditions described in the Offer to Purchase dated as of February 9, 2023 and the related Notice of Guaranteed Delivery, copies of which may be obtained from D.F. King & Co., Inc., the tender and information agent for the Tender Offer, at http://[email protected], by telephone at (800) 431-9646 (U.S. toll free) and (212) 269-5550 (banks and brokers) or in writing at D.F. King & Co., Inc., 48 Wall Street, 22nd Floor, New York,...