International Speedway to draw on credit facility to redeem 5.4% notes

By Tali David

Minneapolis, Feb. 8 - International Speedway Corp. announced the mailing of the redemption notices for the full redemption of its 5.4% senior notes due April 2014.

The redemption date is March 15, according to a press release.

The company said it intends to use additional borrowings under its 2010 credit facility to redeem and retire all of the notes for an aggregate price equal to the $87 million principal amount currently outstanding plus a redemption premium in the amount of $9 million and accrued interest.

U.S. Bank NA is the paying agent.

International Speedway is a promoter of motorsports activities based in Daytona Beach, Fla. The company owns and/or operates 13 motorsports entertainment facilities.

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