Green Valley Ranch Resorts to launch $310 million credit facility at Thursday bank meeting

By Paul A. Harris

Portland, Ore., April 25 - Green Valley Ranch Resorts Spa Casinos will hold a Thursday bank meeting for its $310 million credit facility, according to an informed source.

The facility is comprised of a $215 million five-year first-lien term loan, an $85 million six-year second-lien term loan and a $10 million revolver.

Jefferies & Co. Inc. is the left bookrunner. Goldman Sachs & Co. Inc. is the joint bookrunner.

Proceeds will be used to help fund the acquisition of the Henderson, Nev., lodging and entertainment company by Station Casinos LLC.

The deal is leveraged 4.6 times through the first-lien loan and 6.4 times through the entire facility.

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