Wynn Las Vegas starts roadshow for $1.1 billion 10-year first-mortgage notes

By Paul A. Harris

St. Louis, Nov. 15 - Wynn Las Vegas launched its $1.1 billion offering of 10-year senior first-mortgage notes (existing ratings B2/B) in a roadshow Monday, according to a syndicate source.

Pricing is expected to take place Nov. 22.

The notes are non-callable for five years.

Deutsche Bank Securities, Banc of America Securities, Bear Stearns, JP Morgan and SG Securities are joint bookrunners for the Rule 144A offering.

Proceeds will be used to retire existing debt, including a tender for the company's 12% second-mortgage notes due 2010, and to fund the expansion of the Wynn Las Vegas building project.

The company is a Las Vegas-based entertainment, gaming and lodging company.

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