secwatch.observer — SEC 8-K summary
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Issuer:     WYNN RESORTS LTD (WYNN)
CIK:        0001174922
Form:       8-K
Filed at:   2023-06-05T23:59:59+00:00
Accession:  0001174922-23-000120
Event type: debt
Sentiment:  neutral
Materiality: 0.50
Item codes: 1.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Wynn Resorts subsidiary amends $615M term loan to replace LIBOR with SOFR
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- Borrowers (50.1% Wynn subs) amended $615M secured loan to replace LIBOR with SOFR, effective July 3, 2023.
- New SOFR Rate = Adjusted Daily Simple SOFR + 1.70% spread, plus 0.10% adjustment; floor set at 0%.
- Loan secured by ~160,000 sq ft retail at Wynn Las Vegas; principal amount unchanged.
- Amendment includes conforming changes and a Benchmark Replacement mechanism if SOFR becomes unavailable.
- Transition aligns with market LIBOR phase-out; no immediate interest cost impact if rates comparable.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1174922/000117492223000120/0001174922-23-000120-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1174922/000117492223000120/wynn-20230602.htm
  HTML page:      https://secwatch.observer/filing/0001174922-23-000120

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