Station Casinos launches $1.6 billion term B at Libor plus 350 bps

By Sara Rosenberg

New York, Feb. 14 - Station Casinos LLC launched its $1,625,000,000 term loan B on Thursday with price talk of Libor plus 350 basis points with a 1% Libor floor and an original issue discount of 991/2, according to a market source.

The loan has 101 soft call protection for six months, the source said.

The company's $1,975,000,000 credit facility also includes a $350 million revolver.

BofA Merrill Lynch, Deutsche Bank Securities Inc., J.P. Morgan Securities LLC and Credit Suisse Securities (USA) LLC are the lead banks on the deal.

Proceeds will be used to refinance existing OpCo and PropCo debt.

Station Casinos is a Las Vegas-based casino company.

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