Wynn Resorts subsidiary increases delayed-draw term loan to $1 billion

By Angela McDaniels

Tacoma, Wash., July 6 – Wynn America, LLC, an indirect wholly owned subsidiary of Wynn Resorts, Ltd., amended its senior secured credit agreement on Friday to increase the delayed-draw term loan to $1 billion from $875 million, according to an 8-K filing with the Securities and Exchange Commission.

The available borrowing period for the $125 million increase ends Dec. 31. Once drawn, loans under the $125 million increase have no required scheduled repayments until maturity in November 2020.

Wynn America expects to use the additional proceeds primarily to fund the development, construction and pre-opening expenses of Wynn Boston Harbor and for general corporate purposes.

Deutsche Bank AG, New York Branch is the administrative agent.

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

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