Wynn Resorts tenders for up to $300 million 5½% notes due 2025

By Wendy Van Sickle

Columbus, Ohio, Aug. 10 – Wynn Resorts Ltd. announced that indirect wholly owned subsidiary Wynn Resorts Las Vegas, LLC has begun a cash tender offer for up to $300 million principal amount of its outstanding $1.78 billion 5½% senior notes due 2025 (Cusips: 983130AV7, U98347AK0) jointly issued with Wynn Resorts Las Vegas Capital Corp.

Wynn Resorts Las Vegas is offering to purchase the notes for a total consideration of $990 for each $1,000 principal amount, which includes an early tender premium of $50, according to a press release.

The early tender premium will be paid only to holders who tender their notes by 5 p.m. ET on Aug. 23.

The offer is set to expire at 5 p.m. ET on Sept. 8.

If the issuer elects to have an early settlement date, it is expected to be Aug. 24. Final settlement, if any, is expected to occur on Sept. 12.

Tenders may be withdrawn at any time at or prior to the early tender date.

Deutsche Bank Securities Inc. (855 287-1922 or 212 250-7527) and Scotia Capital (USA) Inc. (833 498-1660) are the dealer managers for the tender offer.

The tender and information agent is D.F. King & Co., Inc. (wynn@dfking.com, 800 628-8538 or 212 269-5550).

The hotel and casino company is based in Las Vegas.

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