By Cristal Cody
Tupelo, Miss., Sept. 12 – Wynn Resorts Finance LLC and subsidiary Wynn Resorts Capital Corp. priced $750 million of 5 1/8% guaranteed senior notes due 2029 (B1/BB) in a Rule 144A and Regulation S transaction on Thursday, according to a market source and a news release.
Deutsche Bank Securities Inc. was the bookrunner.
The notes are being issued as part of a debt financing package that includes a new $1 billion first-lien term loan A facility and an $850 million new revolving first-lien credit facility.
The notes will be guaranteed by Wynn Resorts Finance’s domestic subsidiaries that guarantee its new senior secured credit facilities.
Proceeds will be used along with borrowings under the senior secured credit facilities to refinance existing credit facilities of Wynn Resorts and Wynn America, LLC.
The issuers are subsidiaries of Wynn Resorts, Ltd., a Las Vegas-based hotel and casino developer and operator.
| Issuers: | Wynn Resorts Finance LLC and Wynn Resorts Capital Corp.
|
| Guarantors: | Domestic subsidiaries that guarantee senior secured credit facilities
|
| Amount: | $750 million
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| Description: | Senior notes
|
| Maturity: | 2029
|
| Bookrunner: | Deutsche Bank Securities Inc.
|
| Coupon: | 5 1/8%
|
| Trade date: | Sept. 12
|
| Ratings: | Moody’s: B1
|
| S&P: BB
|
| Distribution: | Rule 144A and Regulation S
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