Wynn Resorts, Limited Announces Pricing of Private Offering of $500,000,000 Aggregate Principal Amount of Wynn Las Vegas First Mortgage Notes due 2017 (États-Unis)
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Wynn Resorts, Limited Announces Pricing of Private Offering of $500,000,000 Aggregate Principal Amount of Wynn Las Vegas First Mortgage Notes due 2017 (États-Unis)
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Catégorie : Amérique du Nord et Antilles - États-Unis - Économie du secteur
- Chiffres et études
Ceci est un communiqué de presse sélectionné par notre comité éditorial et mis en ligne gratuitement le 12-10-2009
Wynn Resorts, Limited (NASDAQ: WYNN) announced today the pricing by Wynn Las Vegas, LLC and Wynn Las Vegas Capital Corp. (the “issuers”), each a direct or indirect wholly owned subsidiary of Wynn Resorts, Limited, of $500,000,000 aggregate principal amount of new 7.875% First Mortgage Notes due 2017. The notes will be issued at a discount of 97.823% of par. The notes will be offered only to qualified institutional buyers and outside the U.S. in accordance with Rule 144A and Regulation S, respectively, under the Securities Act of 1933. Wynn Las Vegas, LLC plans to use the net proceeds of the offering to repay amounts outstanding under its revolving credit facilities and term loan facility.
The notes will rank pari passu in right of payment with borrowings under Wynn Las Vegas, LLC’s credit facilities and its outstanding 6.625% First Mortgage Notes due 2014 (the “existing notes”). The notes will be senior secured obligations of the issuers, will be guaranteed by certain of Wynn Las Vegas, LLC’s subsidiaries and will be secured by a first priority lien on substantially all of the existing and future assets of the issuers and guarantors and, subject to approval from the Nevada Gaming Commission, a first priority lien on the equity interests of Wynn Las Vegas, LLC, all of which is the same collateral that secures borrowings under Wynn Las Vegas, LLC’s credit facilities and the existing notes.
The notes have not been registered under the Securities Act of 1933 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. The issuers have agreed to make an offer to exchange the notes for registered, publicly traded notes that have substantially identical terms as the notes.
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