Affinity Gaming (Herbst) slates loans, bonds to refinance Ch. 11 exit debt
Affinity Gaming is due to head out on the road today with a $200 million offering of eight-year (non-call four) senior notes as part of an effort to refinance bankruptcy-exit debt. Deutsche Bank, J.P....
View ArticleAffinity Gaming (Herbst) sets guidance on bond offering, outlook revised from...
Affinity Gaming is guiding a $200 million offering of six-year (non-call three) senior notes in the 9% area. Bookrunners Deutsche Bank, J.P. Morgan, Jefferies, and Macquarie are taking final orders...
View ArticleBoyd Gaming outlines new debt at Peninsula following acquisition
Boyd Gaming outlined in an SEC filing the proposed structure of Bank of America Merrill Lynch, Deutsche Bank, and J.P. Morgan’s financing backing its $1.45 billion purchase of Peninsula Gaming, which...
View ArticleCasino operator Rivers Pittsburgh completes offering of second-lien notes...
Rivers Pittsburgh Finance today completed an offering of second-lien notes via leads Goldman Sachs, Wells Fargo, and Credit Agricole, according to sources. Final terms pegged the tight end of talk, and...
View ArticleRevel term debt sinks in trading mart as Atlantic City gambling revenue falls...
The Revel Entertainment term loan due 2017 (L+750, 1.5% LIBOR floor) sunk to an 87/88 context in the leveraged loan secondary trading market yesterday, due to disappointing May gaming revenue in...
View ArticleFoxwoods Casino reaches long-awaited debt-restructuring agreement
The Mashantucket Pequot Tribal Nation, the Tribal gaming concern that owns Foxwoods Resort Casino in Connecticut, yesterday announced that it has reached an agreement with steering committees of its...
View ArticleScientific Games senior notes price at par to yield 6.25%; terms
Scientific Games today completed an offering of senior notes via bookrunners Bank of America, Credit Suisse, J.P. Morgan, RBS, UBS, Deutsche Bank, Goldman Sachs, and Jefferies, according to sources....
View ArticleContentious two-day hearing reveals Patriot Coal venue dispute as vexing call
The question of whether to change the venue of Patriot Coal’s Chapter 11 case to West Virginia from the Southern District of New York is proving to be not only a contentious one for the parties...
View ArticleFoxwoods proposes $520M debt reduction in final restructuring terms
The Mashantucket Pequot Tribal Nation, the Tribal gaming concern that owns Foxwoods Resort Casino, made public the finalized terms for its proposed restructuring, highlighting a $520 million reduction...
View ArticleStation Casinos readies $2B leveraged loan deal
Bank of America Merrill Lynch, Deutsche Bank, J.P. Morgan and Credit Suisse have scheduled a bank meeting for 1:30 p.m. EST on Thursday, Feb. 14, to launch a $1.975 billion senior secured financing for...
View ArticleGaming and Leisure inks $1B pro rata facility to back Penn National spin-off
Gaming and Leisure Properties disclosed today that it has obtained a $1 billion senior unsecured credit facility in connection with its spin-off from Penn National Gaming. The five-year loan package is...
View ArticleTrump Taj Mahal could file Chapter 11 ‘within days’– report
Trump Entertainment Resorts last remaining casino, Trump Taj Mahal, could be headed to Chapter 11, according to a report yesterday afternoon in the New York Post. According to the report, which cites...
View ArticleEnergy sector, Colt Defense focus of LCD’s Restructuring Watchlist
The beleaguered energy sector dominated activity this quarter on LCD’s Restructuring Watchlist, with Sabine Oil & Gas missing an interest payment on a bond and Hercules Offshore striking a deal...
View ArticleCaesars Entertainment restructuring agreement fails to garner needed support
Caesars Entertainment Co. (CEC) said that its restructuring agreement with a group of second-lien lenders of bankrupt unit Caesars Entertainment Operating Corp. (CEOC) has failed to attract sufficient...
View ArticleLCD’s High Yield Market Primer/Almanac Updated with 3Q Charts
LCD’s online High Yield Bond Market Primer has been updated to include third-quarter 2015 and historical volume and trend charts. The Primer can be found at HighYieldBond.com, LCD’s free website...
View ArticleScientific Games bonds slip further on CFO resignation
Bonds backing Scientific Games slipped further today after the company announced the resignation of its Chief Financial Officer, Scott Schweinfurth, according to a company release. The 10% notes due...
View ArticleThird Ave’s liquidating debt fund holds concentrated, inactive paper
The leveraged finance marketplace is abuzz this morning ahead of a conference call to address to a plan of liquidation for the Third Avenue Focused Credit mutual fund following big losses this year,...
View ArticleCannery Casino loans edge closer to par as Boyd to buy Vegas assets
Loans backing Cannery Casino edged closer to par on news that Boyd Gaming agreed to purchase the company’s Las Vegas assets for $230 million. The sale represents the remainder of the company’s...
View ArticleCaesars Returns to Leveraged Loan Mart with $4.7B Deal Backing Resort Collection
A Credit Suisse–led arranger group is circulating price talk on a $4.7 billion covenant-lite first-lien term loan for Caesars Resort Collection, according to sources. Commitments are due by 5 p.m. EDT...
View ArticleWynn Las Vegas bonds Extend Losses Amid Harassment Cloud
Bonds backing Wynn Las Vegas were falling sharply today—with the issuer’s 5.5% bullet notes due 2025 shedding three points, to 101.5—to extend declines since reports surfaced on Friday alleging sexual...
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