Wynn Macau adjusts convertible bond conversion price
The move follows the declaration of an interim dividend.
Macau.- Wynn Macau has announced the adjustment of the conversion price of its US$600m 4.50 per cent convertible bonds due in 2029 following the company’s dividend payment declaration. All other terms and conditions of the convertible bonds will remain unchanged.
It stated: “Pursuant to the terms and conditions of the convertible bonds, the conversion price is subject to adjustment for, among other things, capital distributions made by the company. Accordingly, the conversion price was adjusted from HK$10.24375 to HK$10.01212 as a result of the payment of the 2023 final dividend and the 2024 interim dividend, and such adjustment will become effective on September 4.”
On August 16, the casino operator announced an interim dividend of HK$0.075 (US$0.01) per share to be paid on September 12. The company resumed dividend payments after announcing a 2023 final dividend of HK$0.075 per share in March.
Wynn Macau reported revenue of US$885.3m for the second quarter of the year, down 11.3 per cent sequentially but up 15 per cent when compared to last year. The company recorded adjusted earnings before interest, taxation, depreciation, amortisation and rent (EBITDAR) of US$280.4m, down 17.4 per cent sequentially.
