Sugarhouse talks $235 million eight-year notes at 6½% area yield

By Paul A. Harris

Portland, Ore., May 15 - Sugarhouse HSP Gaming Prop. Mezz. LP and Sugarhouse HSP Gaming Finance Corp., units of Sugarhouse Casino, talked their $235 million offering of eight-year second-lien notes (B3/CCC) to yield in the 6½% area, a market source said on Wednesday.

The deal is expected to price before the end of the week.

Goldman Sachs & Co., Wells Fargo Securities LLC, BofA Merrill Lynch and Fifth Third Securities Inc. are the joint bookrunners.

The Rule 144A for life notes come with three years of call protection.

The Philadelphia-based casino entertainment enterprise plans to use the proceeds to refinance its 8 5/8% senior secured notes due 2016, to fund capital expenditures and to redeem preferred shares.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.