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Seminole Hard Rock talks $500 million seven-year notes at Libor plus 275 bps area
By Paul A. Harris
St. Louis, Feb. 23 - Seminole Hard Rock Entertainment Inc. talked its $500 million offering of first-priority seven-year senior secured floating-rate notes (B1/BB) at the Libor plus 275 basis points area on Friday, according to an informed source.
Books close at 5 p.m. ET on Monday. Pricing is expected Tuesday morning.
Merrill Lynch & Co. has the books for the Rule 144A for life notes.
The notes will come with two years of call protection.
Proceeds will be used to help fund the Seminole Tribe of Florida's acquisition of Hard Rock International from The Rank Group.
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