Little Traverse Bay Bands of Odawa Indians to start roadshow Tuesday for $195 million eight-year notes

By Paul A. Harris

St. Louis, Oct. 24 - The Little Traverse Bay Bands of Odawa Indians will begin a roadshow on Tuesday for their $195 million offering of eight-year senior notes (B3), according to an informed source.

Banc of America Securities LLC has the books for the Rule 144A offering, which has no registration rights.

The notes will come with four years of call protection.

Proceeds will be used to fund costs associated with the issuer's new gaming facility, to refinance its existing gaming business debt and to fund an interest reserve covering four interest payments on the new bonds.

The prospective issuer is the owner and operator of Victories Casino and Victories Hotel in Petoskey, Mich.

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