Wynn terminates credit agreement, releasing liens on mortgage notes

By Marisa Wong

Madison, Wis., Sept. 19 - Wynn Las Vegas, LLC terminated its amended and restated credit agreement dated Aug. 15, 2006 with Deutsche Bank Trust Co. Americas as administrative agent, according to an 8-K filed Wednesday with the Securities and Exchange Commission.

As of Sept. 17, the termination date, no loans were outstanding under the credit agreement. Any outstanding letters of credit will continue under a separate agreement, the filing said.

Certain commitments under the credit agreement were scheduled to expire on July 17, 2015, but the company did not incur any early termination penalties.

Upon termination of the credit agreement, the liens securing the 7 7/8% first mortgage notes due 2017, 7 7/8% first mortgage notes due 2020, 7¾% first mortgage notes due 2020 and 5.375% first mortgage notes due 2022 issued by Wynn Las Vegas and Wynn Las Vegas Capital Corp. were released.

Wynn is a Las Vegas-based gaming and entertainment company.

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