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Wynn Resorts to buy back US$681 million in notes due 2025 after completion of tender offer

by Newsdesk

Sun 10 Mar 2024 at 18:47

Elaine Wynn sues Wynn Resorts over access to shareholders

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Wynn Resorts Limited revealed Friday it will repurchase almost US$681 million of its outstanding 5.500% Senior Notes due 2025 following completion of its previously announced tender offer.

The final amount of US$680,986,000 fell short of the tender cap of US$800 million and leaves around US$719 million in notes outstanding. The tender offer expired on Friday 8 March with settlement due this Monday 11 March 2024.

The company added that its subsidiaries Wynn Las Vegas LLC and Wynn Las Vegas Capital Corp are also redeeming US$119 million of the notes on 27 March 2024.

As reported by Inside Asian Gaming, Wynn announced in mid-March that it would conduct a private add-on offering of Wynn Resorts Finance 7.125% Senior Notes due 2031 with the proceeds to be used to partially pay for a simultaneous buyback of the US$800 million in Senior Notes due 2025.

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Tags: North America senior notes tender offer Wynn Resorts

Newsdesk

The IAG Newsdesk team comprises some of the most experienced journalists in the Asian gaming industry. Offering a broad range of expertise, their decades of combined know-how spans multiple countries across a variety of topics.

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