will soon liberalize<\/a> some travel controls, allowing for easier access to the casino center.<\/p>\nCash Increases Survival Timeline<\/h2>\n
The capital Wynn Macau is raising in the note sale is vital because it extends the operator’s length of survival should the slowdown on the peninsula last longer than expected.<\/p>\n
\u201cThe additional liquidity is beneficial as it further improves the company’s liquidity profile and runway in Macau to over 2 years on a cash burn basis as they manage the current weak operating environment, including reduced visitation levels in Macau,\u201d said Moody’s Investors Service in a note. \u201cAlthough there is an initial increase in leverage on a gross basis, the transaction enables the company to reduce the secured debt in its capital structure once business conditions improve.\u201d<\/p>\n
There are some covenants attached to the bond sale, including limitations on Wynn Macau’s ability to \u201ceffect a consolidation or merger\u201d or sell properties and other assets<\/strong>.<\/p>\n","protected":false},"excerpt":{"rendered":"Wynn Macau is selling $750 million worth of corporate notes, as the operator continues efforts to bolster its balance sheet with the coronavirus pandemic sapping revenue in the world’s largest gaming hub. In a regulatory filing published yesterday, the owner of the Wynn Macau and Wynn Palace integrated resorts said it’s selling notes maturing in […]<\/p>\n","protected":false},"author":46,"featured_media":138684,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[69069,10],"tags":[],"acf":[],"yoast_head":"\n
Wynn Macau Is Raising More Cash in $750 Million Note Sale<\/title>\n\n\n\n\n\n\n\n\n\n\n\n\n\t\n\t\n\t\n\n\n\n\n\n\t\n\t\n\t\n