Wynn buys back $625 million of loan debt at a discount

By Sara Rosenberg

New York, Dec. 3 - Wynn Resorts Ltd. purchased $625 million of loans under its credit facility on Nov. 26, according to an 8-K filed with the Securities and Exchange Commission on Wednesday.

The company bought the loans at a discounted price of 95.375, so its total payment was $596 million.

The total amount purchased includes the $198.25 million of loans that had been held by Stephen A. Wynn, chairman of the board of directors and chief executive officer.

Wynn is a Las Vegas-based developer, owner and operator of destination casino resorts.

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