Wynn Resorts calls its $250 million in 6% convertibles

By Susanna Moon

Chicago, June 15- Wynn Resorts Ltd. said it would redeem its $250 million outstanding principal amount of 6% convertible debentures due 2015.

The redemption date is July 20.

Before 5 p.m. ET on July 20, holders may convert debentures into common shares at a conversion price of $23 per share, or at a rate of 43.4782 shares per $1,000 principal amount of debentures.

The shares closed at $94.67 on June 14.

Debentures not converted by 5 p.m. ET on July 20 will be redeemed for a cash amount of $1,036 per $1,000 plus accrued interest.

On June 7, the company announced an equity repurchase program of up to $1.2 billion of stock and 6% convertible debentures due 2015.

The Las Vegas-based company owns and operates luxury hotel and casino resorts.

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