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Article: Wynn Resorts Announces Refinancing of Wynn Las Vegas' Credit Facilities.
- Article from:
- Business Wire
- Article date:
- August 15, 2006
CopyrightCOPYRIGHT 2006 Business Wire. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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LAS VEGAS -- Wynn Las Vegas, LLC, a subsidiary of Wynn Resorts, Limited (Nasdaq: WYNN) announced today that it has entered into an amended and restated credit agreement with Deutsche Bank, Banc of America, Bear, Stearns, J.P. Morgan, Societe Generale and various other lenders to refinance Wynn Las Vegas' existing credit facilities.
The refinancing, among other things, (i) increases the credit facilities from $1 billion to $1.125 billion by increasing the revolver from $600 million to $900 million and reducing the term loan from $400 million to $225 million; (ii) reduces the LIBOR spread on the revolver and term loan by 0.625% and 0.250%, respectively; and (iii) ...