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MotorCity Casino to start roadshow Thursday for $200 million eight-year notes
By Paul A. Harris
St. Louis, July 5 - CCM Merger, Inc. (MotorCity Casino) will begin a roadshow on Thursday for its $200 million offering of eight-year senior unsecured notes (B3/B-), according to an informed source.
The roadshow wraps up on July 12, with pricing expected shortly afterwards.
Deutsche Bank Securities and Merrill Lynch & Co are joint bookrunners for the Rule 144A notes, which are being offered without registration rights.
The securities will come with four years of call protection.
Proceeds will be used to help fund the acquisition of MotorCity Casino by Ilitch Holdings Inc. from MGM Mandalay.
MotorCity Casino is a Detroit-based gaming company.
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