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Wynn Resorts - Tender Offer - Early Results & Upsizing

Wynn Resorts Announces Early Results and Upsizing of Tender Offer for Cash by Wynn Las Vegas, LLC for its 5.500% Senior Notes due 2025


23 AUGUST 2023


Full announcement including full disclosures and disclaimers available via SEC


"LAS VEGAS, August 23, 2023 (BUSINESS WIRE) — Wynn Resorts, Limited (NASDAQ: WYNN) (“Wynn Resorts”) today announced the early results and upsizing of the previously announced tender offer (the “Tender Offer”) by its indirect wholly-owned subsidiary, Wynn Las Vegas, LLC, to purchase a portion of Wynn Las Vegas, LLC and Wynn Las Vegas Capital Corp.’s outstanding 5.500% Senior Notes due 2025 (the “Notes”). Wynn Las Vegas, LLC has amended the terms of the Tender Offer to increase the aggregate principal amount of Notes subject to the Tender Offer (the “Tender Cap”) from $300,000,000 to $400,000,000. The Tender Offer is subject to the terms and conditions set forth in the Offer to Purchase dated August 10, 2023 (as amended by this press release and as it may be further amended or supplemented from time to time, the “Offer to Purchase”).


The following table sets forth, among other things, the principal amount of Notes validly tendered and accepted for purchase as of 5:00 p.m., New York City time, on August 23, 2023 (such date, the “Early Tender Date”):"



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Wynn Resorts Announces Commencement of Tender Offer for Cash by Wynn Las Vegas, LLC for its 5.500% Senior Notes due 2025


10 AUGUST 2023


Full announcement including full disclosures and disclaimers available via Businesswire


"LAS VEGAS--(BUSINESS WIRE)--Wynn Resorts, Limited (NASDAQ: WYNN) (“Wynn Resorts”) today announced that its indirect wholly-owned subsidiary, Wynn Las Vegas, LLC, has commenced a cash tender offer (the “Tender Offer”) to purchase a portion of Wynn Las Vegas, LLC and Wynn Las Vegas Capital Corp.’s (collectively, the “Issuers”) 5.500% Senior Notes due 2025 (CUSIP Nos. 983130 AV7 / U98347 AK0) (the “Notes”) in a principal amount of up to $300.0 million, exclusive of any applicable premiums paid in connection with the Tender Offer and accrued and unpaid interest. The terms and conditions of the Tender Offer are set forth in an Offer to Purchase, dated August 10, 2023 (the “Offer to Purchase”), which is being sent to all registered holders (collectively, the “Holders”) of Notes."

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***PREVIOUS OFFER BELOW***

 

Wynn Resorts Announces Initial Settlement of Tender Offer for Cash by Wynn Resorts Finance, LLC for Any and All of its 7.750% Senior Notes due 2025


16 FEBRUARY 2023


Full announcement available via SEC


LAS VEGAS, February 16, 2023 (BUSINESS WIRE) — Wynn Resorts, Limited (NASDAQ:WYNN) (“Wynn Resorts”) announced today the initial settlement of the previously announced cash tender offer (the “Tender Offer”) by its indirect wholly-owned subsidiary, Wynn Resorts Finance, LLC, (“Wynn Resorts Finance”), for any and all of the outstanding $600 million aggregate principal amount of 7.750% Senior Notes due 2025 (the “2025 Notes”) of Wynn Resorts Finance and Wynn Resorts Capital Corp.

"The Tender Offer is expired at 5:00 P.M., New York City time, on February 15, 2023 (the “Expiration Time”). At the Expiration Time, valid tenders had been received with respect to approximately $506.4 million of the $600 million aggregate principal amount of 2025 Notes outstanding (which excludes 2025 Notes subject to the guaranteed delivery procedures).


Wynn Resorts Finance has accepted for payment all 2025 Notes validly tendered prior to the Expiration Date. On February 16, 2023, such tendering Holders received the tender offer consideration in the amount of $1,024.50 for each $1,000 principal amount of 2025 Notes, plus accrued and unpaid interest from the last interest payment date to, but excluding, the date hereof. With respect to 2025 Notes accepted for purchase that were tendered and are subsequently delivered in accordance with the guaranteed delivery procedures, such tendering Holders will receive payment of the tender offer consideration for such accepted 2025 Notes (to the extent such 2025 Notes were not delivered prior to the Expiration Time) on February 21, 2023, plus accrued and unpaid interest from the last interest payment date to, but excluding, the date hereof."

 

Wynn Resorts Announces Commencement of Tender Offer for Cash by Wynn Resorts Finance, LLC for Any and All of its 7.750% Senior Notes due 2025


09 FEBRUARY 2023


Full announcement available via Businesswire.


LAS VEGAS--(BUSINESS WIRE)--Wynn Resorts, Limited (NASDAQ:WYNN) (“Wynn Resorts”) announced today that its indirect wholly-owned subsidiary, Wynn Resorts Finance, LLC, (“Wynn Resorts Finance”) has commenced a cash tender offer (the “Tender Offer”) for any and all of the outstanding $600 million aggregate principal amount of 7.750% Senior Notes due 2025 (the “2025 Notes”) of Wynn Resorts Finance and Wynn Resorts Capital Corp

The Tender Offer is scheduled to expire at 5:00 P.M., New York City time, on February 15, 2023 unless extended or earlier terminated (such time, as may be extended, the “Expiration Time”). Holders who validly tender their 2025 Notes prior to the Expiration Time will be eligible to receive $1,024.50 for each $1,000 principal amount of 2025 Notes.


Completion of the Tender Offer is subject to certain market and other conditions, including the completion by Wynn Resorts Finance and Wynn Resorts Capital Corp. (the “Issuers”) of new debt financing on terms and conditions satisfactory to the Issuers. Settlement of the Tender Offer is expected to occur one business day following the Expiration Time, unless terminated (other than with respect to Notes tendered pursuant to the guaranteed delivery procedures described in the Offer to Purchase, with respect to which settlement is expected to occur three business days after the Expiration Time).


Tendered Notes may be withdrawn at any time at or prior to the Expiration Time."

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