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Great Canadian Gaming greenshoe lifts 5¼% senior debentures due 2026 to C$189 million
By Marisa Wong
Los Angeles, April 30 – Great Canadian Gaming Corp. announced that the underwriters of its recent offering of C$1,000-par senior debentures due Dec. 31, 2026 exercised C$9 million of their over-allotment option, bringing the total size of the issue to C$189 million.
As previously reported, Great Canadian priced C$180 million of the debentures on March 2 at par with a coupon of 5¼%.
The deal included a C$27 million greenshoe.
CIBC Capital Markets, Scotiabank, BMO Capital Markets and RBC Capital Markets are the joint bookrunners. Underwriters are National Bank Financial Inc., TD Securities Inc., Raymond James Ltd., Canaccord Genuity Corp., Industrial Alliance Securities Inc., Cormark Securities Inc. and HSBC Securities (Canada) Inc.
The debentures are redeemable from Dec. 31, 2022 to Dec. 31, 2023 at 103.9375, from Dec. 31, 2023 to Dec. 31, 2024 at 102.625, from Dec. 31, 2024 to Dec. 31, 2025 at 101.3125 and after that at par.
The company plans to list the debentures on the Toronto Stock Exchange under the symbol “GC.DB.”
Great Canadian is a North York, Ont.-based gaming, entertainment and hospitality company.
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