Wynn Macau closes senior notes issuance with some US$765.9 mln in net proceeds

Gaming operator Wynn Macau has closed the issuance of senior notes due 2028 which it estimated generated some US$765.9 million (MOP6.1 billion) in net proceeds.

The group initiated the issuance of US$750 million in senior notes due August 26, 2028 with a 5.625 per cent per annum interest rate and a 103 per cent offering price, to be consolidated and form a single series with the US$600 million 5.625 per cent senior notes due to the same time.

The first interest payment due date is set for February 26, 2021.

Wynn Macau intends to use the net proceeds from the offering to facilitate the repayment of a portion of the amounts outstanding under some US$2 billion Wynn Macau credit facilities.

The group has so far issued almost US$4 billion in senior notes, due in different periods between 2024 and 2028, according to its latest financial report.

The gaming operator reported US$280.6 million in net losses during the third quarter of this year, with operating revenues dropping by 89.2 per cent year-on-year to some US$474.3 million.