Herbst Gaming to start two-day roadshow Monday for $150 million eight-year notes

By Paul A. Harris

St. Louis, May 20 - A two day roadshow kicks off Monday for Herbst Gaming Inc.'s $150 million offering of eight-year senior subordinated notes (expected B3/assigned B-), according to a syndicate source.

Pricing is expected to take place Thursday.

Lehman Brothers will run the books for the Rule 144A offering. Banc of America Securities, US Bancorp and Wells Fargo Capital are co-managers.

The notes will come with four years of call protection.

Proceeds will be used to fund a portion of the tender for $217 million of the company's 10¾% senior secured notes due 2008.

Herbst is a Las Vegas-based gaming company.

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