Financing ·
Wynn Resorts issues $900 million of 6.875% senior notes due March 2035 to refinance existing debt
WYNNWynn Resorts Ltd
Wynn Resorts, Limited announced the issuance of $900 million aggregate principal amount of 6.875% Senior Notes due March 15, 2035. The notes are secured by joint and several guarantees from domestic subsidiaries and bear interest payable semi-annually on March 15 and September 15. Net proceeds will be used to redeem the outstanding 5.250% Senior Notes due 2027 and pay related issuance fees. This debt refinancing activity is material as it alters the company's capital structure and interest obligations. Wynn Resorts, Limited operates in the hospitality industry, specifically owning and operating luxury integrated resorts.