Wynn Macau to issue US$500 million senior notes

Macau gaming giant Wynn Macau (1128) said it plans to issue senior notes to professional investors. 

The aggregate principal amount, terms, and conditions of the notes have not been determined, it said in a filing on Monday. 

Bloomberg earlier reported that the company intended to raise US$500 million (HK$3.9 billion) from the issuance. The debts will carry a tenor of eight and a half years, and the prices will be set on Tuesday, it said. 

Wynn said it intends to apply the net proceeds from the proposed offering for general corporate purposes, including to repay outstanding indebtedness, such as that under the WM Cayman II Revolver and one or more series of the existing notes.