Herbst Gaming $150 million eight-year notes price talk 8¼% area

By Paul A. Harris

St. Louis, May 26 - Price talk on Herbst Gaming Inc.'s $150 million of eight-year senior subordinated notes (confirmed B3/expected B-) is in the area of 8¼%, according to a market source.

Pricing is expected on Thursday.

Lehman Brothers is running the books for the Rule 144A offering. Banc of America Securities, Piper Jaffray and Wells Fargo Capital are the co-managers.

The notes will come with four years of call protection.

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

The prospective issuer is a Las Vegas-based 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.