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Wynn Macau expects to raise US$765.9m from add-on notes

The notes will be listed in Hong Kong.
The notes will be listed in Hong Kong.

The company plans to use the funds to repay credit facilities.

Macau.- Casino operator Wynn Macau has revealed it expects to raise US$765.9m net from an add-on issuance of senior unsecured notes valued at a principal amount of US$750m.

Wynn Macau said that it intends to use the net proceeds for repayment of a portion of the amounts outstanding under the Wynn Macau credit facilities.

As of November 30, Wynn Macau Ltd and subsidiaries had unrestricted cash and cash equivalents of US$2.1 billion.

According to the company, which operates the Wynn Macau resort on the city’s peninsula, and Wynn Palace (pictured) in Cotai, new notes, with Deutsche Bank AG, Singapore branch, as the sole global coordinator, are likely to be listed in Hong Kong. They will only be available to professional investors.

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