Station Casinos seeks amendment to shift term loan B to SOFR

By Sara Rosenberg

New York, May 22 – Station Casinos LLC (Red Rock Resorts) launched a negative consent amendment to transition its $1.469 billion term loan B due February 2027 to SOFR plus 225 basis points from Libor plus 225 bps and to add a credit spread adjustment, according to a market source.

The CSA being offered is 10 bps one-month rate, 15 bps three-month rate and 25 bps six-month rate.

Deutsche Bank Securities Inc. is the lead on the amendment.

The amendment deadline is 5 p.m. ET on Friday, the source added.

Station Casinos is a Las Vegas-based operator of hotels and motels.

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