MotorCity Casino $625 million credit facility to launch Wednesday

By Sara Rosenberg

New York, July 5 - MotorCity Casino is scheduled to hold a bank meeting on Wednesday to launch its proposed $625 million credit facility (B+), according to a market source.

Deutsche Bank and Merrill Lynch are the lead banks on the deal, with Deutsche the left lead.

The facility consists of a $75 million revolving credit facility and a $550 million term loan B, the source said, adding that price talk will likely come out at Wednesday's launch.

The Detroit-based company plans to use proceeds for acquisition financing.

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