Old Evangeline Downs starts tender for 13% notes

New York, March 9 - The Old Evangeline Downs, LLC said it has begun a tender offer for all its $123.2 million principal amount of 13% senior secured notes due 2010.

The Lafayette, La. owner of the Evangeline Downs pari-mutuel horsetrack said it also soliciting consents to amend the note indenture and to release the liens on the collateral securing the notes.

Holders who tender by the consent deadline of 5 p.m. ET on March 19 will receive $1,130 per $1,000 principal amount of the notes.

For notes tendered after the consent deadline but before the expiration of 5 p.m. ET on April 5 the payment will be $1,120 per $1,000 principal amount.

A tender of a note will be deemed to be delivery of consent.

The tender offer is subject to various conditions including the receipt of tenders for at least a majority of the outstanding notes, the execution of the supplemental indenture for which consents are being solicited and completion of an offering of senior secured notes by an affiliate of Old Evangeline Downs. Proceeds of the note offering will be used to help finance the tender offer.

U.S. Bank NA is the depository and information agent (800 934-6802).

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