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Wynn Resorts units commence consent solicitation to amend senior notes

Two indirect wholly owned units of Wynn Resorts Ltd. are soliciting consents from holders of their 4.25% senior notes due 2023 to effect a proposed amendment to their terms.

After the amendment, the definition of "change of control" in the indenture of the notes will conform to the terms governing other outstanding series that have been issued.

As of Feb. 16, there is $500.0 million in aggregate principal amount of the notes outstanding and Wynn Las Vegas LLC and Wynn Las Vegas Capital Corp. are the issuers. Holders of the notes stand to receive a total cash payment of $10.0 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 Feb. 27, unless extended.

Deutsche Bank Securities Inc. serves as the solicitation agent and D.F. King & Co. Inc. acts as information and tabulation agent in connection with the solicitation.