Seminole Hard Rock to launch $240 million term loan B on Tuesday

By Sara Rosenberg

New York, April 26 - Seminole Hard Rock Entertainment Inc. is set to hold a bank meeting at 10:30 a.m. ET in New York on Tuesday to launch a $240 million seven-year covenant-light term loan B, according to a market source.

BofA Merrill Lynch and Credit Suisse Securities (USA) LLC are the lead banks on the deal.

The loan has 101 soft call protection for six months and amortizes at a rate of 1% per annum, the source said.

Proceeds will be used to refinance existing debt and for general corporate purposes.

Seminole Hard Rock is an owner, operator and franchisor of Hard Rock cafes, casinos and hotels.

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