secwatch.observer — SEC 8-K summary
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Issuer:     WYNN RESORTS LTD (WYNN)
CIK:        0001174922
Form:       8-K
Filed at:   2024-10-03T23:59:59+00:00
Accession:  0001174922-24-000150
Event type: debt
Sentiment:  neutral
Materiality: 0.60
Item codes: 1.01, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Wynn Resorts subsidiaries extend $615M term loan to 2027, prepay $15M, cap interest rate at 3.385%
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- Borrowers Wynn/CA Plaza and Wynn/CA Property Owner amended their term loan to extend scheduled maturity to July 24, 2027.
- Borrowers made a $15 million principal prepayment as part of the amendment.
- Borrowers entered an interest rate swap maturing Feb 2027 to cap One Month Term SOFR at 3.385%.
- New loan-to-value covenant requires maximum 55% ratio tested annually, with mandatory excess cash sweep if breached.
- Interest rate set at One Month Term SOFR plus 215 basis points.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1174922/000117492224000150/0001174922-24-000150-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1174922/000117492224000150/wynn-20241002.htm
  HTML page:      https://secwatch.observer/filing/0001174922-24-000150

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