Horseshoe Baltimore to launch $330 million credit facility on Tuesday

By Sara Rosenberg

New York, April 15 - Horseshoe Baltimore will hold a bank meeting on Tuesday to launch a $330 million credit facility, according to a market source.

Deutsche Bank Securities Inc., Credit Suisse Securities (USA) LLC and Goldman Sachs & Co. are the lead banks on the deal.

The facility consists of a $10 million revolver, a $215 million seven-year term loan B, a $30 million furniture, fixtures and equipment (FF&E) term loan, a $37.5 million seven-year final maturity, delayed-draw for 12 months term loan, and a $37.5 million seven-year final maturity, delayed-draw for 18 months term loan, the source said.

Proceeds will be used to fund the development of the Horseshoe Baltimore casino, which is a joint venture between Caesars Entertainment, Rock Gaming LLC, CVPR Gaming Holdings LLC; STRON-MD LP and PRT TWO LLC.

© 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.