For a portion of its senior notes due in 2025, Wynn Resorts increased the size of a recently announced tender offer. The casino operator announced earlier this month that it will buy back $300 million of the debt, which has a 5.5% yield. A $400 million boost has been made to that sum. A total of $1.78 billion in principal is still owed on that issuance. Because it eliminates a component of the operator's high-yield debt obligations, Wynn started the tender offer for a portion of the notes that mature in 2025. In turn, the company reduces its need for interest funding and streamlines its capital structure.
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