Wheeling Island to redeem its 10 1/8% notes

By Susanna Moon

Chicago, Nov. 26 - Wheeling Island Gaming, Inc. will redeem its $125 million of 10 1/8% senior notes due Dec. 15, 2009, according to an 8-K filing with the Securities and Exchange Commission.

The company will pay par plus accrued interest on Dec. 21.

Wheeling issued the Rule 144A offering on Dec. 19, 2001. Under terms of the issue, the notes were non-callable for four years. After that, the notes were callable on Dec. 15, 2005 at 105.06250, then at 102.53125, falling to par on Dec. 15, 2007.

The issuer is a gaming and entertainment company based in Wheeling, W.Va.

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