Wynn Resorts Announces Refinancing of Wynn Las Vegas' Credit Facilities.LAS VEGAS -- Wynn Las Vegas, LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control , 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 LIBOR See: London Interbank Offered Rate LIBOR See London interbank offered rate (LIBOR). spread on the revolver and term loan by 0.625% and 0.250%, respectively; and (iii) extends the maturity dates for the revolver and the term loan to 2011 and 2013, respectively. Wynn Resorts, Limited is traded on the Nasdaq National Market under the ticker symbol Ticker Symbol An arrangement of characters (usually letters) representing a particular security listed on an exchange or otherwise traded publicly. When a company issues securities to the public marketplace, it selects an available ticker symbol for its securities which investors WYNN and is part of the NASDAQ-100 Index. The company owns and operates Wynn Las Vegas (www.wynnlasvegas.com), a luxury hotel and destination casino resort located on the Las Vegas Strip The Las Vegas Strip (also known as The Strip) is a 4 mi (6.7 km) section of Las Vegas Boulevard South, most of which has been designated an All-American Road. which opened to the public on April 28, 2005. Wynn Las Vegas features 2,716 luxurious guest rooms and suites; an approximately 111,000 square foot casino; 22 food and beverage F&B is a common abbreviation in the United States and Commonwealth countries, including Hong Kong. F&B is typically the widely accepted abbreviation for "Food and Beverage," which is the sector/industry that specializes in the conceptualization, the making of, and delivery of foods. outlets; an on-site 18-hole golf course; approximately 223,000 square feet of meeting space; an on-site Ferrari and Maserati dealership; and approximately 76,000 square feet of retail space. Wynn Resorts, Limited is currently constructing Wynn Macau, a destination casino resort in the Macau Special Administrative Region of the People's Republic of China A Special Administrative Region is an administrative division of the People's Republic of China. Each SAR has a Chief Executive as head of the region and head of government. . Wynn Macau is scheduled to open in September 2006 (www.wynnmacau.com). |
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