Wynn Resorts (WYNN) has released an update.
Wynn Resorts, Limited, through its subsidiaries, issued $400 million of 7.125% Senior Notes due 2031, supplementing a previous issuance of $600 million under the same terms. This strategic financial move allows the company to bolster its capital structure, with the option for early redemption of these notes before November 2030 at a specified price or at market value after that date. Additionally, Wynn Las Vegas, LLC announced early positive results from its cash tender offer to purchase $800 million of its 5.500% Senior Notes due 2025, with future transactions depending on market conditions. Both these actions are part of a broader financial strategy to optimize the company’s debt profile, subject to regulatory requirements and market factors.
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