Station Casinos looks to extend expired forbearances to July 17

By Caroline Salls

Pittsburgh, June 22 - Station Casinos, Inc. is seeking an extension to July 17 of the forbearance agreements with the holders of a majority in principal amount of its senior and senior subordinated notes and the lenders holding a majority of its credit agreement commitments, according to a company news release.

Station said the lenders are seeking the required approval for the extension of the forbearance agreements, which have expired.

The company said it is in continuing restructuring talks with the lenders.

As previously reported, the company entered into the first forbearance agreement on March 2 with the holders of a majority of each of its 6% senior notes due 2012, 7¾% senior notes due 2016, 6½% senior subordinated notes due 2014, 6 7/8% senior subordinated notes due 2016 and 6 5/8% senior subordinated notes due 2018.

Station entered into the forbearance agreement with the lenders holding a majority in principal amount of loans under the credit agreement on the same day.

Station is a Las Vegas-based casino company.

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