A $1.1 billion refinancing for Wynn Resorts is being tweaked by leads Deutsche Bank and Banc of America Securities. The deal's $725 million revolver was increased to $900 million, and the $400 million term loan was downsized to $225 million, according to a banker. The pricing remains at LIBOR plus 162.5 basis points for the revolver and LIBOR plus 187.5 basis points for the term loan. It could not be determined why the banks shuffled money between the revolver and term loan.
Wynn Resorts owns and operates Wynn Las Vegas, a luxury hotel and casino resort in Las Vegas, and is currently constructing Wynn Macau, a destination resort in Macau. Calls to John Strzemp, cfo, and a spokesman were not returned. A Deutsche Bank banker and a spokeswoman for Banc of America declined comment.