Wynn Resorts launches $400 million term loan B at Libor plus 250 bps

By Sara Rosenberg

New York, Oct. 10 – Wynn Resorts Ltd. launched on Wednesday its $400 million six-year covenant-light term loan B (Ba3) with price talk of Libor plus 250 basis points with a 0% Libor floor and an original issue discount of 99.5, according to a market source.

The term loan has a 101 soft call protection for six months.

Deutsche Bank Securities Inc., Bank of America Merrill Lynch, Fifth Third, J.P. Morgan Securities LLC, SunTrust Robinson Humphrey Inc. and Goldman Sachs Bank USA are the bookrunners on the deal. BNP Paribas Securities Corp., Credit Agricole, Bank of Nova Scotia and SMBC are co-managers.

Commitments are due at 5 p.m. ET on Oct. 18.

Proceeds will be used for general corporate purposes.

Wynn Resorts is a Las Vegas-based developer, owner and operator of destination casino resorts.

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