Resorts World Las Vegas Closes $2.6 Billion Financing
|Deal Type||Debt Capital Markets|
Senior Unsecured Notes due 2029
|Client & Transactional Partners||
Resorts World Las Vegas
|Our Role||Joint Bookrunner|
On April 16, 2019, 1.2(“Genting”) and its wholly owned indirect subsidiaries, Resorts World Las Vegas LLC (“RWLV”) and RWLV Capital Inc, successfully closed a $1 billion Rule 144A / Regulation S offering of 10-year Senior Unsecured Notes (the “Notes”). The Notes offering is being undertaken by RWLV as part of the financing for the development of an integrated resort project in Las Vegas, Nevada (the “Resort”). Concurrently with the issuance of the Notes, RWLV entered into $1.6 billion Senior Secured Credit Facilities (the “Credit Facilities”), comprised of a $1.2 billion Revolver and a $400 million Term Loan. The Resort is expected to commence operations by the end of 2020. With over seven million square feet, the Resort will be the first to open on the Las Vegas Strip in the last ten years. KeyBanc Capital Markets (“KBCM”) acted as Joint Lead Arranger and Joint Bookrunner on the Credit Facilities and acted as Joint Bookrunner on the Notes.