East Valley begins roadshow Monday for $290 million notes in two parts

By Paul A. Harris

St. Louis, July 13 - East Valley Tourist Development Authority will begin a roadshow on Monday for its $290 million two-part offering of senior secured notes (B+), according to market sources.

The authority is offering eight-year fixed-rate notes, which come with four years of call protection, and seven-year floating-rate notes, which come with two years of call protection.

Merrill Lynch & Co. is the bookrunner.

The notes will be secured with a first lien on revenues and personal property.

Proceeds will be used to fund a Native American gaming facility in the Coachella Valley, near Palm Springs, Calif.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.