Golden Nugget launches $300 million incremental term loan at 99.5 OID

By Sara Rosenberg

New York, Oct. 4 – Golden Nugget LLC (Landry’s Inc.) launched on Friday its $300 million incremental term loan B due Oct. 4, 2023 with original issue discount talk of 99.5, according to a market source.

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

Jefferies LLC is the lead arranger on the deal.

Commitments are due on Thursday, 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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