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Wynn Resorts units get consents needed to align 4¼% notes with others
By Wendy Van Sickle
Columbus, Ohio, March 20 – Wynn Resorts, Ltd. said indirect wholly owned subsidiaries Wynn Las Vegas, LLC and Wynn Las Vegas Capital Corp. received consents from the requisite majority of holders to amend their $500 million of 4¼% senior notes due 2023.
Specifically, consents were received from holders of $481,181,000, or 96.24%, of the outstanding principal amount of the notes, according to a press release.
The consent solicitation began on March 15 and ended at 5 p.m. ET on March 20.
The amendment will conform the definition of change of control relating to ownership of equity interests in the company to those of the issuers’ other outstanding notes, as previously reported.
Holders who gave their consents will share in the aggregate cash payment of $25 million, which will be paid pro rata. The amendment will become operative upon payment of the consent solicitation.
Deutsche Bank Securities Inc. (855 287-1922 and 212 250-7527) is the solicitation agent. D.F. King & Co., Inc. (866 356-7814) is the information and tabulation agent.
Wynn Resorts is a Las Vegas-based developer, owner and operator of destination casino resorts.
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