Ameristar Casinos to price $800 million 10-year notes on Thursday

By Paul A. Harris

Portland, Ore., March 30 - Ameristar Casinos, Inc. has scheduled an investor conference call for 11 a.m. ET on Thursday for an $800 million offering of 10-year senior notes, according to an informed source.

The deal is set to price later on Thursday.

Wells Fargo Securities LLC is the left lead bookrunner for the Rule 144A with registration rights offering. Deutsche Bank Securities Inc., Merrill Lynch, J.P. Morgan Securities LLC and Credit Agricole CIB are the joint bookrunners.

Commerzbank and U.S. Bancorp are the co-managers.

The notes will become callable in four years at par plus 75% of the coupon.

Credit ratings remain to be determined.

The Las Vegas-based gaming and entertainment company plans to use the proceeds, in addition to proceeds from a new $1.4 billion credit facility, to fund the tender offer for its 9¼% senior notes due 2014, as well as to refinance existing facilities and repurchase stock from the majority shareholder.

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