Global casino operator Wynn Resorts has completed financing for its Wynn Al Marjan Island development in the United Arab Emirates after securing a US$2.4 billion construction facility with a global syndicate of lenders.
The secured term loan facility has been made available to Wynn Al Marjan Island FZ-LLC – a subsidiary of the joint venture firm of which Wynn owns 40% – and is denominated in a combination of AED and USD currencies, Wynn explained. The term of the loan is seven years at what it describes as a “competitive market interest rate” and is structured as a delayed draw facility to provide “significant financial flexibility” to the joint venture partners.
