Mandalay Resorts to price $300 million drive-by bullets deal on Friday

By Paul A. Harris

St. Louis, Feb. 6 - Mandalay Resort Group will price a rapidly marketed offering of $300 million senior notes due 2013 (expected: Ba2/BB+) on Friday, according to syndicate sources.

Salomon Smith Barney, Banc of America Securities, Deutsche Bank Securities Inc. and Merrill Lynch & Co. are joint bookrunners. Credit Lyonnais, Mizuho, SG Cowen, Scotia Capital, BNY Capital Markets and Wells Fargo Capital are co-managers.

The Rule 144A notes are non-callable for the life of the bond.

Proceeds will be used to repay debt and for general corporate purposes.

The issuer is a Las Vegas-based gaming, lodging and entertainment company.

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