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The ABL Advisor Deal Tables
SELECTED TRANSACTION DETAILS
Deutsche Bank Agents $800MM Credit Facility for Wynn Resorts
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Lenders/Participants
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Deutsche Bank AG Cayman Islands Branch [Administrative Agent]
Deutsche Bank Securities, Inc. [Sole Bookrunner, Lead Arranger]
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Structure
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364-day Term Loan Facility
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Amount
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$800.000
Million
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Borrower(s)
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Wynn Resorts
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Description
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The Credit Agreement provides for a 364-day term loan facility to the Company in an aggregate principal amount of up to $800 million. The annual interest rate applicable to the Bridge Facility is, at the option of the Company, (i) LIBOR plus the Applicable Margin, or (ii) the Base Rate plus the Applicable Margin (with LIBOR and Base Rate having customary definitions for financings of this type). Applicable Margin in turn means 1.75% per annum in the case of Base Rate loans and 2.75% per annum in the case of LIBOR loans. On March 28, 2018, the Company borrowed the full amount available under the Bridge Facility. On March 30, 2018, the Company used the net proceeds of the Bridge Facility, along with cash on hand and approximately $250 million of borrowings under its U.S. credit facilities, which consist of $875 million and $125 million fully funded senior term loan facilities and a $375 million senior secured revolving credit, to repay in full the promissory note issued in connection with the redemption of all shares of the Company’s stock held by Aruze USA, Inc. as of February 18, 2012, and other amounts due to the Settlement Agreement and Mutual Release, dated March 8, 2018, by and between the Company, Stephen A. Wynn, Linda Chen, Russell Goldsmith, Ray R. Irani, Robert J. Miller, John A. Moran, Marc D. Schorr, Alvin V. Shoemaker, D. Boone Wayson, Allan Zeman, and Kimmarie Sinatra, and Universal Entertainment Corp. and Aruze USA, Inc
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Industry
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Gaming
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| Related Tags |
Deutsche Bank AG, Deutsche Bank Securities
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ABL Advisor
Deal Tables
2025
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