Wynn Resorts Ltd has announced that Wynn Resorts Finance LLC and its subsidiary Wynn Resorts Capital Corp are offering $750m aggregate principal amount of Senior Notes due 2029 in a private offering.

Wynn Resorts Finance said it plans to use the net proceeds from the offering, together with borrowings under the Senior Secured Credit Facilities, to refinance the existing credit facilities of Wynn Resorts and Wynn America LLC and pay related fees and expenses.

Concurrently with the issuance of the notes, Wynn Resorts Finance expects to enter into a new first lien term loan A facility in an aggregate principal amount of up to $1bn and a new revolving first lien credit facility in an aggregate principal amount of up to $850m. 

It will also undergo an internal restructuring, after which, Wynn Resorts Finance will hold all of Wynn Resorts’ ownership interests in Wynn Las Vegas LLC which owns and operates the Wynn Las Vegas integrated resort in Las Vegas, Nevada, in Wynn Group Asia, and in Wynn MA, LLC, which owns and operates the Encore Boston Harbor integrated resort in Everett, Massachusetts.