San Pasqual Casino talks $180 million eight-year notes at 8% area; pricing Wednesday

By Paul A. Harris

St. Louis, Sept. 13 - San Pasqual Casino Development Group talked its $180 million offering of eight-year senior notes at the 8% area on Tuesday, according to market sources.

The offering is expected to price on Wednesday afternoon.

Merrill Lynch & Co. has the books for the Rule 144A with no registration rights issue.

The notes come with four years of call protection.

Standard & Poor's assigns its B+ rating to the notes.

Proceeds will be used to repay the company's credit facility and to fund project expansion.

The prospective issuer is an Indian gaming facility near San Diego.

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