Wynn Macau Selling $1 trillion of bonds to reduce debt at increased rates

Wynn Macau Ltd. said it sold $1 billion in corporate bonds, netting the gaming company's proceeds of $991.3 million to minimize previously issued debt at higher interest rates.

In a filing released today with the Hong Kong Stock Exchange, two Macau casinos operators said the newly issued bonds will come due in 2029 and carry a 5.125 percent interest rate.

According to the filing, the company intends to use the net proce....