Golden Nugget revises $300 million incremental term loan OID to 99.75

By Sara Rosenberg

New York, Oct. 11 – Golden Nugget LLC (Landry’s Inc.) tightened the original issue discount on its $300 million incremental term loan B due Oct. 4, 2023 to 99.75 from 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.

Recommitments were scheduled to be due at noon ET on Friday, 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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