After 15 months of structuring, Wynn Resorts Macau has finally closed its first round of senior funding. The facility is split into a US dollar tranche and a Hong Kong dollar tranche and both are further divided into a project facility and a hotel facility.
There is a term loan is for $382 million and a revolving credit facility for HK$117 million $15 million. The term loan has a maturity of seven years and carries a price of 350bp over Libor. The facility has a two grace period from signing and then follows an amortization schedule. The average life is 5.35 years.
The Hong Kong...
