Wynn gets $380 million 6 5/8% first mortgage notes in exchange to date

By Susanna Moon

Chicago, April 9 - Wynn Resorts, Ltd. said its subsidiaries Wynn Las Vegas, LLC and Wynn Las Vegas Capital Corp. received about $380 million of their $1.7 billion principal amount of 6 5/8% first mortgage notes due 2014 as of 7 a.m. ET on April 9, the early delivery time.

For each $1,000 principal amount of notes tendered by the early tender date, holders will receive $1,000 principal amount of 7 7/8% first mortgage notes due 2020 plus $10 in cash. The new notes will be issued by the subsidiaries.

As previously reported, the private exchange offer is subject to at least $250 million of the existing notes being tendered.

The exchange offer will expire on April 23.

Only qualified institutional buyers are able to participate. The exchange is being carried out under Rule 144A and Regulation S.

Global Bondholder Services Corp. (866 470-3800 or call collect 212 925-1630) is the information agent.

Wynn is a Las Vegas-based casino company.

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