Golden Nugget launches $2.35 billion credit facilities to investors

By Sara Rosenberg

New York, Jan. 5 – Golden Nugget LLC held a lender call at 4 p.m. ET on Wednesday to launch $2.35 billion of credit facilities, according to a market source.

Jefferies LLC is the left lead arranger on the deal.

The facilities consist of a $500 million five-year revolver and a $1.85 billion seven-year first-lien term loan, the source said.

Price talk on the term loan is SOFR+CSA plus 400 basis points with two leverage-based step-downs, a 0.5% floor and an original issue discount of 99.5.

CSA is 10 bps one-month rate, 15 bps three-month rate and 25 bps six-month rate.

Included in the term loan is 101 soft call protection for six months.

Commitments are due at 3 p.m. ET on Jan. 12, the source added.

Proceeds will be used with $1.85 billion of senior secured notes and $1.85 billion of senior unsecured notes to refinance existing debt.

Golden Nugget is a diversified restaurant, hospitality, entertainment and gaming company.

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