Sugarhouse Casino begins roadshow for $300 million eight-year notes

By Paul A. Harris

Portland, Ore., April 20 – Sugarhouse Casino started a roadshow on Thursday in New York and New Jersey for a $300 million offering of eight-year senior secured notes, according to a syndicate source.

The roadshow travels to Boston on Friday, returns to New York on Monday and Tuesday and moves to the West Coast of the United States on Wednesday. The Rule 144A and Regulation S for life deal is set to price thereafter.

Goldman Sachs & Co. is the left bookrunner. Wells Fargo Securities LLC, U.S. Bancorp Investments Inc. and Fifth Third Bank are the joint bookrunners.

The notes come with three years of call protection.

The issuing entities will be Sugarhouse HSP Gaming Prop. Mezz LP and Sugarhouse HSP Gaming Finance.

The owner and operator of a casino and gaming development along the Delaware River in Philadelphia plans to use the proceeds, along with a draw on its super priority revolving credit facility and cash on hand, to take out its existing notes and to repay its existing revolver.

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