Wynn Resorts Announces Pricing of Private Offering of $900 million Aggregate Principal Amount of Wynn Las Vegas 5.25% Senior ...
05 May 2017 - 7:00AM
Business Wire
Wynn Resorts, Limited (NASDAQ: WYNN) announced today the pricing
by Wynn Las Vegas, LLC and Wynn Las Vegas Capital Corp. (the
“issuers”), each an indirect wholly-owned subsidiary of Wynn
Resorts, Limited, of $900 million aggregate principal amount of
5.25% Senior Notes due 2027 (the “Notes”). The Notes will be issued
at par. Wynn Las Vegas, LLC plans to use the net proceeds from the
offering and cash on hand to purchase any and all of the issuers’
outstanding $900 million aggregate principal amount of 5.375% First
Mortgage Notes due 2022 (the “2022 Notes”) pursuant to the
previously announced cash tender offer with respect to the 2022
Notes. In addition, Wynn Las Vegas, LLC intends to satisfy and
discharge the indenture governing the 2022 Notes and redeem any
2022 Notes not tendered.
The issuers will make the offering pursuant to an exemption
under the Securities Act of 1933, as amended (the “Securities
Act”). The initial purchasers of the Notes will offer the Notes
only to persons reasonably believed to be qualified institutional
buyers in reliance on Rule 144A under the Securities Act or outside
the United States to certain persons in reliance on Regulation S
under the Securities Act. The Notes have not been and will not be
registered under the Securities Act or under any state securities
laws. Therefore, the issuers may not offer or sell the Notes within
the United States to, or for the account or benefit of, any United
States person unless the offer or sale would qualify for a
registration exemption from the Securities Act and applicable state
securities laws.
This press release does not constitute an offer to sell or a
solicitation of an offer to buy the Notes described in this press
release, nor shall there be any sale of the Notes in any state or
jurisdiction in which such an offer, sale or solicitation would be
unlawful prior to registration or qualification under the
securities laws of any such jurisdiction.
Forward-Looking Statements
This release contains forward-looking statements, including
those related to the offering of Notes and whether or not the
issuers will consummate the offering. Forward-looking information
involves important risks and uncertainties that could significantly
affect anticipated results in the future and, accordingly, such
results may differ from those expressed in any forward-looking
statements. These risks and uncertainties include, but are not
limited to, competition in the casino/hotel and resorts industries,
the issuers’ dependence on existing management, levels of travel,
leisure and casino spending, general domestic or international
economic conditions, and changes in gaming laws or regulations.
Additional information concerning potential factors that could
affect the issuers’ financial results is included in Wynn Las
Vegas, LLC’s Annual Report on Form 10-K for the year ended December
31, 2016 and Quarterly Report on Form 10-Q for the fiscal quarter
ended March 31, 2017 and Wynn Las Vegas, LLC’s and Wynn Resorts,
Limited’s other periodic reports filed with the Securities and
Exchange Commission. Neither Wynn Resorts, Limited nor the issuers
are under any obligation to (and expressly disclaim any such
obligation to) update their forward-looking statements as a result
of new information, future events or otherwise, except as required
by law.
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version on businesswire.com: http://www.businesswire.com/news/home/20170504006764/en/
Wynn Resorts, LimitedCraig Billings, Chief Financial Officer
& Treasurer702-770-7000investorrelations@wynnresorts.com
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