International edition
June 24, 2021

To finance construction of its Cotai casino and to refinance debt

Wynn Macau to expand its secured loan and credit facilities

(Macau).- Wynn Macau announced it will borrow up to us$ 2.3 billion to finance the construction of its Cotai casino resort, and also to refinance the company’s existing debt. Bank of China will be its intercreditor agent.

T

he company said in a filing to the Hong Kong Stock Exchange that it has amended its credit facilities to expand its secured loan and credit facilities to US$ 2.3 billion.

The amended facilities consist of: a US$ 750 million equivalent fully funded senior secured term loan facility maturing in July 2018; a US$ 1.55 billion equivalent senior secured revolving credit facility maturing in July 2017; and an option to upsize the total
senior secured facilities by an additional US$ 200 million.

Once completed, Wynn Cotai is anticipated to include a casino, a five-star hotel with about 2,000 rooms and suites, as well as convention, retail, entertainment and food and beverage offerings.

The total budget for the project is estimated to be in the range of US$ 3.5 billion to US$ 4 billion, the company said in the filing.

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