Eldorado Resorts calls all $168 million 8 5/8% notes due 2019

By Toni Weeks

San Luis Obispo, Calif., July 24 – Eldorado Resorts LLC and Eldorado Capital Corp. announced they intend to redeem all $168 million of the outstanding 8 5/8% senior secured notes due 2019, according to a notice.

The notes will be redeemed at a redemption price of 104.313 plus accrued interest to the redemption date, which is July 28.

U.S. Bank NA is the paying agent.

Eldorado is currently conducting a tender offer and consent solicitation for the 8 5/8% notes and also the 11½% senior secured second-lien notes due 2019 issued by wholly owned subsidiary MTR Gaming Group, Inc.

The total purchase price for each $1,000 principal amount will be $1,047.92 for the 8 5/8% notes and $1,066.39 for the 11½% notes.

The total amount includes a cash consent payment of $30.00 per $1,000 principal amount of notes tendered by 5 p.m. ET on July 22, the consent date.

Those who tender after the early deadline will receive the total payment less the consent premium for a tender payment per $1,000 principal amount of $1,017.92 for the 8 5/8% notes and $1,036.39 for the 11½% notes.

The tender offers will end at 12 a.m. ET on Aug. 7.

Eldorado is a Reno, Nev.-based casino entertainment company.

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