debt
confidence high
sentiment neutral
materiality 0.50
Wynn Resorts to offer $400M add-on 7.125% notes due 2031; proceeds to repurchase up to $800M of 5.5% notes due 2025
WYNN RESORTS LTD
- Offering $400M additional 7.125% Senior Notes due 2031, same series as $600M issued in Feb 2023.
- Proceeds contributed to Wynn Las Vegas to repurchase up to $800M of 5.5% Senior Notes due 2025 via tender offer.
- Any remaining proceeds after tender offer used for general corporate purposes.
- Wynn Resorts also may contribute cash or borrow under credit facilities to fund the repurchases.
- Notes offered in private placement to QIBs under Rule 144A and non-US persons under Regulation S.