Wynn Resorts priced $900 million of 6.875% senior notes due 2035, with proceeds intended to redeem in full Wynn Las Vegas and Wynn Las Vegas Capital Corp.’s 5.250% notes due 2027. The transaction matters to investors because the stated use of funds links the new financing directly to retiring the earlier-maturity notes and related costs.

Key Highlights

  • Wynn Resorts Finance and Wynn Resorts Capital Corp. are each indirect wholly-owned subsidiaries of Wynn Resorts.
  • The private offering is being conducted under an exemption from the Securities Act of 1933.
  • Wynn Resorts priced $900 million of 6.875% senior notes due 2035 through two indirect wholly-owned subsidiaries.
  • Wynn Resorts Finance, LLC and Wynn Resorts Capital Corp. are issuing the senior notes, with a September 22 closing target.

Wynn Resorts, Limited (NASDAQ: WYNN) priced $900 million of 6.875% senior notes due 2035 through two indirect wholly-owned subsidiaries.

Private Offering Sets September 22 Closing Target

Wynn Resorts Finance, LLC and Wynn Resorts Capital Corp. are the issuers of the senior notes. Wynn Resorts Finance plans to contribute or lend the net proceeds, together with cash on hand, to Wynn Las Vegas. The notes are being offered under an exemption from the Securities Act of 1933 and have not been registered under that law or applicable state securities laws.

Proceeds Directed To Earlier-Maturity Notes

The new securities mature in 2035, later than the notes targeted for Redemption in 2027. The stated proceeds plan also covers fees and expenses connected with issuing the new notes and redeeming the existing securities.