Golden Nugget to launch $300 million incremental term loan on Friday

By Sara Rosenberg

New York, Oct. 2 – Golden Nugget LLC (Landry’s Inc.) is scheduled to hold a lender call at 4 p.m. ET on Friday to launch its $300 million incremental term loan B due Oct. 4, 2023, according to a market source.

Jefferies LLC and Deutsche Bank Securities Inc. are the lead arrangers on the deal.

Like the existing term loan B, the incremental loan is priced at Libor plus 275 basis points with a 0.75% Libor floor, the source said.

Proceeds will be used to fund the acquisition of Del Frisco’s Double Eagle Steakhouses and the Del Frisco’s Grilles from L Catterton.

Closing is expected at the end of October.

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

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