Wynn Resorts to price $350 million five-year notes on Tuesday

By Paul A. Harris

Portland, Ore., April 7 – Wynn Resorts Finance LLC and Wynn Resorts Capital Corp. plan to price a $350 million offering of five-year senior notes (existing ratings B1/BB-) in a Tuesday drive-by, according to a market source.

Deutsche Bank Securities Inc. is the left lead bookrunner. Goldman Sachs & Co. LLC, BofA Securities Inc., BNP Paribas Securities Corp., CFGRPI, Credit Agricole CIB, Fifth Third Securities Inc., J.P. Morgan Securities LLC, Mizuho Securities USA Inc., Scotia Capital (USA) Inc., SMBC Nikko Securities America Inc. and SunTrust Robinson Humphrey Inc. are the joint bookrunners.

The Rule 144A and Regulation S for life notes feature a make-whole call at Treasuries plus 50 basis points for the first two years and then become callable at a premium. They also feature a 35% equity clawback at par plus the coupon during the non-call period and a 101% poison put.

The Las Vegas-based developer and operator of high-end hotels and casinos plans to use the proceeds for general corporate purposes.

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