Wynn Macau, Limited announced that reference is made to the company's announcement dated 16 September 2021 with respect to the Facility Agreement entered into, among others, the company, WM Cayman II and Bank of China Limited, Macau Branch (Previous Announcement). The company announced that, as agreed on 5 May 2022 (after trading hours) between the company, WM Cayman II and Bank of China Limited, Macau Branch, as agent and a syndicate of lenders to the Facility Agreement (Lenders), the Lenders agreed to waive certain financial covenants in the Facility Agreement in respect of the relevant periods ending on the following applicable test dates 30 June 2022; 30 September 2022; 31 December 2022; and 31 March 2023;
and provide for a floor on the interest rate margin of 2.625% per annum through 30 June 2023. The company, as guarantor, may be subject to certain restrictions on payments of dividends or distributions to the Company's shareholders, unless certain financial criteria have been satisfied through the Facility Agreement.