Wynn Resorts Subsidiaries Launch $900 Million Private Offering of Senior Notes Due 2035
Wynn Resorts (WYNN) said Thursday that its indirect subsidiaries, Wynn Resorts Finance and Wynn Resorts Capital, are launching a $900 million private offering of senior notes due 2035.The senior notes due 2035 will initially be jointly and severally guaranteed by Wynn Resorts Finance's domestic subsidiaries that guarantee the issuers' existing senior secured credit facilities, except Wynn Resorts Capital, and will be senior unsecured obligations of the issuers and guarantors, the company said.Wynn Resorts Finance will contribute or lend the net proceeds from the offering , together with cash on hand, to its subsidiary, Wynn Las Vegas, which in turn will apply the amounts to redeem its 5.250% senior notes due 2027 and pay related fees and expenses, according to the company.Additionally, Wynn Las Vegas intends to redeem all of the outstanding 5.250% senior notes due 2027 on or after the closing of the senior notes due 2035 offering, Wynn Resorts said.Price: $88.66, Change: $-1.57, Percent Change: -1.74%
