White & Case advises initial buyers on Wynn Macau’s offering of US$1 billion of 6.750% senior notes, due 2034
The list included the Deutsche Bank AG, Singapore Branch and 17 other banks.
Key points:
– Wynn Macau plans to use proceeds from the senior notes to pay outstanding debts and for other general corporate purposes
– Proceeds are expected to reach US$989m
White & Case LLP, an international law firm, has advised several banks, including Deutsche Bank AG, Singapore Branch as initial purchasers in Wynn Macau, Limited’s Rule 144A/ Regulation S offering of US$1bn of 6.750% senior notes, due 2034.
Along with the Deutsche Bank AG, Singapore Branch, 17 other banks were listed as initial buyers.
White & Case partner Jessica Zhou commented: “The successful execution of this transaction extends our strong track record in advising on the financing transactions of some of the major players in the Macau gaming sector.
“The substantial size of this senior notes issuance reflects market confidence in Wynn Macau and the Macau market generally.”
Zhou was involved in leading the Firm’s deal team. Since 2017, she has advised on several of Wynn Macau’s notes offerings.
Wynn Macau, Limited is a Hong Kong-listed leading developer. The company is also the owner and operator of entertainment resort facilities and integrated destination casino gaming in Macau.
Wynn Macau issued a statement regarding the senior notes and said: “The company estimates that the net proceeds from the offering of the senior notes (after deducting discounts of the initial purchasers and estimated offering expenses payable by the company), will be approximately US$989m.
“The company intends to apply the net proceeds from the proposed offering for general corporate purposes, including to repay outstanding indebtedness, such as that under the WM Cayman II Revolver and/or one or more series of the existing notes.”
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