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Wynn Macau offers senior notes, redemption

Casino operator Wynn Macau has proposed an issuance of senior notes in order to repurchase and redeem its senior notes due 2021.

In October 2013, the Wynn Macau issued 5.25 percent senior notes due 2021, representing an aggregate principal amount of US$600 million.

The following year, Wynn issued an additional aggregate principal amount of US$750 million 5.25 percent senior notes due 2021.

As at Monday, the aggregate outstanding principal amount of the 2021 Notes is US$1.35 billion.

However, Wynn Macau said the aggregate principal amount of the new senior notes have not yet been determined.

In the same filing, the company also announced a concurrent tender offer to repurchase all outstanding 2021 notes.

The tender offer will commence on September 11, 2017, and will expire on September 19, 2017, and will use funds raised by the senior notes offering as well as other sources of funds available and cash on hand, said the operator.

More news from this jurisdiction

MacauTuesday, Jan 16, 2018

Macau’s gaming regulator published a breakdown of Macau GGR for the fourth quarter of 2017 on Tuesday, revealing higher than expected mass performance and decelerated VIP growth in the quarter.

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The second week of January saw stronger GGR numbers, says brokerage firm Bernstein, which has revised up its GGR estimate for the month.

MacauMonday, Jan 15, 2018

Melco Resorts & Entertainment Ltd is proud to announce the winning of three Hotelier of the Year for 2017 awards at the prestigious BMW Hotelier Awards, an annual award presentation for the hospitality sector.

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A group of gaming workers from Wynn Macau have submitted a petition to the MSAR government complaining of Wynn’s alleged tolerance of clients’ illegal smoking.

Elsewhere, MacauTuesday, Jan 09, 2018

Casino operator MGM recently supported a University of Macau (UM) study tour to Las Vegas.

MacauTuesday, Jan 09, 2018

The Adelson Family Foundation on Tuesday presented a cheque for more than $1.9 million to the University of Saint Joseph.

MacauTuesday, Jan 09, 2018

The Hong Kong-Zhuhai-Macau Bridge is set to open in the second quarter of 2018, according to people familiar with the matter.