Wynn Macau issues US$750 million senior notes

Macau casino operator Wynn Macau has announced the issuance of US$750 million 5.5 percent senior notes due 2026.

Net proceeds from the notes offering is expected to be approximately US$743.1 million, which will be used for “general corporate purposes until business recovers from the effects of the COVID-19 pandemic” and then to facilitate the repayment of a portion of the amounts outstanding under the Wynn Macau Credit Facilities. 

The Wynn Macau board said they believe that the move would extend the maturity profile of the group’s indebtedness and reduce the group’s secured indebtedness.