New Issue: Station Casinos prices $50 million add-on to 6½% notes due 2014 at 100.50

By Paul A. Harris

St. Louis, March 1 - Station Casinos Inc. priced a $50 million add-on to its 6½% senior subordinated notes due Feb. 1, 2014 (B1/B+) Monday at 100.50 to yield 6.417%, according to an informed source.

Price talk was 100.50.

Banc of America Securities ran the books for the Rule 144A add-on.

Proceeds will be used to repay bank debt.

Station Casinos is a Las Vegas-based hotel and casino owner.

The original $400 million issue was priced on Jan. 15.

Issuer:	Station Casinos Inc.
Amount:	$50 million
Security description:	Add-on to the 6 ½% senior subordinated notes due Feb. 1, 2014
Bookrunner:	Banc of America Securities
Maturity:	Feb. 1, 2014
Coupon:	6½%
Price:	100.50
Yield:	6.417%
Spread:	243 basis points
Call features:	Callable after Feb. 1, 2009 at 102.438, 101.625, 100.813, par on Feb. 1, 2012 and thereafter
Pricing date:	March 1
Settlement date:	March 5, with accrued interest
Ratings:	Moody's: B1
	Standard & Poor's: B+

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