Seminole Hard Rock plans roadshow, investor call for $350 million notes due 2021 on Monday

By Paul A. Harris and Aleesia Forni

Virginia Beach, Va., May 6 - Seminole Hard Rock Entertainment Inc. and Seminole Hard Rock International LLC are planning to price a $350 million issue of senior notes due 2021 (B2//), according to a market source.

The companies will begin a roadshow on Monday, as well as an investor call, which is scheduled for 12:30 p.m. ET.

BofA Merrill Lynch and Credit Suisse Securities (USA) LLC are the joint bookrunners for the Rule 144A for life deal.

The notes will be callable in three years at par plus 75% of the coupon and feature a three-year 35% equity clawback and a 101% poison put.

Proceeds, together with proceeds from the company's term loan, will be used to purchase, redeem or otherwise acquire all existing floating-rate senior secured notes due 2014, to make investments and acquisitions and for general corporate purposes.

The owner, operator and franchisor of Hard Rock cafes, casinos and hotels is based in Orlando, Fla.

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