Gaming operator Wynn Macau announced on Friday the closing of the issuance of senior notes worth US$750 million.
The company made the announcement on the website of the Hong Kong Stock Exchange. According to the announcement, the senior notes have an interest rate of 5.500 percent per annum payable semi-annually in arrears on January 15 and July 15 each year. Interest started to accrue on Friday. The maturity date is January 15, 2026, unless earlier redeemed, while the first interest payment due date is January 15, 2021.
The offering price was 100 percent of the principal amount of the senior notes.
According to the announcement, Wynn Macau estimates that the net proceeds from the offering of the notes will be about US$743.1 million after deducting the discounts and commissions of the initial purchasers and estimated offering expenses payable to the company.
Wynn Macau said it “intends to use the net proceeds from the offering for general corporate purposes until our business recovers from the effects of the COVID-19 pandemic, and then to facilitate the repayment of a portion of the amounts outstanding under the Wynn Macau Credit Facilities.”
Friday’s announcement was issued by Wynn Macau Chairman Allan Zeman.
