MTR Gaming to start roadshow early next week for $125 million six-year notes via Jefferies

By Paul A. Harris

St. Louis, April 18 - MTR Gaming Group, Inc. will begin a roadshow early next week for its $125 million offering of six-year fixed-rate senior subordinated notes, according to an informed source.

The offering is expected to price in the early to middle part of the May 1 week.

Jefferies & Co. is the bookrunner for the notes, which are being marketed via Rule 144A with registration rights and via Regulation S. Wells Fargo Securities is the co-manager.

The notes will come with three years of call protection.

Proceeds will be used to complete construction of MTR's Presque Isle Downs facility, to pay the $50 million slots license fee upon licensing of Presque Isle Downs, to repay debt and for general corporate purposes.

MTR is a Chester, W.Va.-based owner, operator and developer of gaming, horseracing and hotel properties.

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