Station Casinos granted final access to $150 million DIP facility

By Alice Popovici

New York, Oct. 14 - Station Casinos, Inc. received final access to its $150 million debtor-in-possession facility from wholly owned unrestricted subsidiary Vista Holdings, LLC, according to a Tuesday filing with the U.S. Bankruptcy Court for the District of Nevada.

The company was previously granted interim access to $75 million of the facility.

As previously reported, interest will be Libor plus 250 basis points.

The facility will mature on the earliest of Feb. 10, 2010, 75 days after entry of the interim order if a final order has not been entered and 10 business days after the effective date of a plan of reorganization.

Station, a Las Vegas-based casino company, filed for bankruptcy on July 28. Its Chapter 11 case number is 09-52470.

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