debt
confidence high
sentiment neutral
materiality 0.50
Wynn Resorts prices $400M add-on of 7.125% notes due 2031 to fund tender for 2025 notes
WYNN RESORTS LTD
- $400M aggregate principal of 7.125% senior notes due 2031 priced at 103% of par; yield 6.570%.
- Net proceeds plus cash to repurchase up to $800M of Wynn Las Vegas 5.500% notes due 2025 via tender offer.
- Tender offer commenced February 8, 2024; remaining proceeds for general corporate purposes.
- Issuers are indirect wholly-owned subsidiaries Wynn Resorts Finance and Wynn Resorts Capital.
- Notes offered privately under Rule 144A/Reg S; not registered under Securities Act.