Wynn Resorts Ltd. said Feb. 28 that two of its indirect wholly owned subsidiaries extended their previously announced consent solicitation to March 6 from Feb. 27.
Wynn Las Vegas LLC and Wynn Las Vegas Capital Corp. started soliciting consent Feb. 16 from holders of its 4.25% senior notes due 2023 to a proposed amendment to their terms.
The units also increased the total cash payment for noteholders who validly tender their securities before the expiration date to $12.5 million from $10.0 million. Consenting holders will also receive an additional contingent payment equal to 5% of the aggregate principal amount of notes.
Deutsche Bank Securities Inc. acts as the solicitation agent, while D.F. King & Co. Inc. is the information and tabulation agent in the transaction.
