Wynn Resorts reports tender of $506.4 million 7¾% notes due 2025

By Wendy Van Sickle

Columbus, Ohio, Feb. 16 – Wynn Resorts Ltd. announced the initial settlement of indirect wholly owned subsidiary Wynn Resorts Finance, LLC’s cash tender offer for any and all of its outstanding $600 million 7¾% senior notes due 2025 jointly issued with Wynn Resorts Capital Corp.

At the expiration time at 5 p.m. ET on Feb. 15, the company had received tenders of $506.4 million notes, all of which were accepted, according to a news release Thursday.

Wynn Resorts Finance was offering to purchase the notes at $1,024.50 for each $1,000 principal amount, as announced on Feb. 9.

Initial settlement occurred on Thursday.

Notes tendered under guaranteed delivery procedures will be settled on Feb. 21.

Deutsche Bank Securities Inc. (855 287-1922 or 212 250-7527) is the dealer manager for the tender offer.

The tender and information agent is D.F. King & Co., Inc. (http://www.wynn@dfking.com; 800 431-9646 or 212 269-5550 for banks and brokers).

The hotel and casino company is based in Las Vegas.

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