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Green Valley Ranch to launch $830 million credit facility Jan. 18
By Sara Rosenberg
New York, Jan. 11 - Green Valley Ranch Gaming LLC is scheduled to hold a bank meeting on Jan. 18 to launch its proposed $830 million senior secured credit facility, according to a market source.
Bank of America is the left lead bank on the deal.
The facility consists of a $30 million revolver (B+), a $500 million term loan B (B+) and a $300 million second-lien term loan (CCC+), the source said.
Proceeds will be used by the Henderson, Nev., resort to refinance existing bank debt and to pay a special dividend to the company owners.
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