Wynn Las Vegas LLC and Wynn Las Vegas Capital Corp., two of Wynn Resorts Ltd.'s indirect wholly owned units, are soliciting consents from holders of the company's 4.25% senior notes due 2023 for a proposed amendment to their terms.
The proposed amendment would conform the definition of "change of control" in the indenture to the terms governing other outstanding notes that have been issued, according to a March 15 regulatory filing.
As of March 15, there is $500 million in aggregate principal amount of the notes outstanding. Holders of the notes stand to receive a total cash payment of $25 million if they validly tender and do not withdraw their securities before the expiration date.
The consent solicitation is set to expire at 5 p.m. ET on March 20, unless extended.
Deutsche Bank Securities Inc. serves as the solicitation agent and D.F. King & Co. Inc. acts as information and tabulation agent.
