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Latham Represents Wynn Resorts in US$600 Million Senior Notes Offering and Tender Offer

February 22, 2023
Corporate and tax team advised on the transaction.

Wynn Resorts, Limited (NASDAQ:WYNN) has announced the pricing by Wynn Resorts Finance, LLC ("Wynn Resorts Finance") and its subsidiary Wynn Resorts Capital Corp. (“Wynn Resorts Capital” and, together with Wynn Resorts Finance, the “Issuers”), each an indirect wholly-owned subsidiary of Wynn Resorts, Limited, of US$600 million aggregate principal amount of 7.125% Senior Notes due 2031 in a private offering.

Wynn Resorts Finance plans to use the net proceeds from the offering, together with cash on hand, (i) to purchase any and all of the 7.750% Senior Notes due 2025 (the “2025 WRF Notes”) that are validly tendered and accepted for payment pursuant to the tender offer commenced by Wynn Resorts Finance, (ii) to redeem any 2025 WRF Notes that remain outstanding upon completion of the tender offer and (iii) to pay related fees and expenses.

Latham & Watkins LLP represented Wynn Resorts in the transaction with a corporate team led by San Diego partner Brett Rosenblatt and New York partners Senet Bischoff and Jason Ewart, with associates Katie Lovejoy, Sara Johnson, and Amy Dau. Advice was also provided on tax matters by Chicago partner Rene de Vera.