Wynn Resorts issues $900 million of 6.875% senior notes due 2035
WYNN•Debt issuance and terms
Wynn Resorts announced an issuance of $900 million of 6.875% Senior Notes due 2035 through indirect units Wynn Resorts Finance and Wynn Resorts Capital.
- Notes mature March 15, 2035.
- Cash interest is payable semi-annually, starting March 15, 2027.
- Domestic subsidiaries that back the issuers’ senior secured credit facilities will guarantee the notes, with specified exceptions.
Use of proceeds and change-of-control provision
Proceeds, together with cash on hand, are earmarked to redeem Wynn Las Vegas’ 5.25% Senior Notes due 2027.
A change-of-control trigger requires a repurchase offer at 101% of principal, excluding accrued interest.
