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Wynn Macau tenders for $1.35 billion of 5¼% notes due 2021 at 102.875
By Susanna Moon
Chicago, Sept. 11 – Wynn Resorts Ltd.’s indirect subsidiary Wynn Macau Ltd. began a tender offer for its $1.35 billion of 5¼% senior notes due Oct. 21, 2021.
The purchase price will be $1,028.75 for each $1,000 principal amount plus accrued interest up to but excluding the settlement date of Sept. 20.
The tender offer will end at 5 p.m. ET on Sept. 19.
The company issued $600 million of the notes in October 2013 and then issued another $750 million of the notes in March 2014.
The purpose of the offer is to acquire all of the notes, and the company plans to call any remaining notes after the tender at 102.625, according to a company announcement.
The tender will be funded using proceeds of new issue of notes and from other available sources including cash on hand.
Deutsche Bank AG, Singapore Branch (+65 6423 5934, 855 287-1922 or 212 250-7527) is the dealer manager. D.F. King & Co., Inc. (212 269-5552, fax 212 709-3328 or wynnmacau@dfking.com) is the information agent and tender agent.
Wynn Macau plans to price senior notes in a new Rule 144A and Regulation S offering, the company said.
The issuer is a Macau-based gaming firm incorporated in the Cayman Islands.
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