Deutsche Bank and Banc of America Securities hit the market with a $1.1 billion refinancing for Wynn Resorts last Wednesday. The deal consists of a $725 million revolver and a $400 million term loan. Pricing for the term loan is LIBOR plus 187.5 basis points and pricing on the revolver is LIBOR plus 162.5 basis points.
Deutsche Bank and Société Générale led Wynn's existing facility, which was increased to $764 million from $397 million in September, according to a Securities and Exchange Commission filing. The existing deal includes a six-year, $729 million term loan; a six-year, HK$156 million term loan and a three-year, HK$117 million revolver.
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. A spokeswoman from Wynn could not be reached by press time.