By Paul A. Harris
St. Louis, March 19 - MTR Gaming Group, Inc. priced $130 million of 9¾% senior notes due 2010 (B2/B+) at 98.806 on Wednesday to yield 9.99%, according to a market source.
Jefferies & Co. was the bookrunner.
Proceeds from the Rule 144A deal will be used to repay the credit facility and for general corporate purposes, including the repurchase of up to $30 million of common stock.
The issuer is a Chester, W. Va. gaming company.
| Issuer: | MTR Gaming Group, Inc.
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| Amount: | $130 million
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| Maturity: | 2010
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| Security description: | Senior notes
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| Manager: | Jefferies & Co.
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| Coupon: | 9¾%
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| Price: | 98.806
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| Yield: | 9.99%
|
| Ratings: | Moody's: B2
|
| Standard & Poor's: B+
|
| Rule 144A Cusip: | 553769AA8
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