Golden Nugget lifts incremental loan to $200 million, changes price

By Sara Rosenberg

New York, Jan. 30 – Golden Nugget LLC upsized its incremental first-lien term loan due Oct. 4, 2023 to $200 million from $100 million and tightened the issue price to par from 99.75, according to a market source.

The company also made a slight change to the amendment that allows for the future refinancing of existing senior and subordinated notes with new unsecured junior debt, the source said.

As before, pricing on the incremental term loan and on the repricing of the company’s existing $2,392,900,000 first-lien term loan due Oct. 4, 2023 is Libor plus 250 basis points with a 0.75% Libor floor.

All of the first-lien term loan debt is getting 101 soft call protection for six months.

Jefferies LLC is the left lead arranger on the deal.

Proceeds from the incremental term loan will be used to fund a dividend, and the repricing will take the existing term loan down from Libor plus 275 bps with a 0.75% Libor floor.

Recommitments were scheduled to be due at 4 p.m. ET on Thursday, the source added.

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

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.