Riviera Holdings plans to refinance 11% notes due 2010

By Angela McDaniels

Seattle, May 3 - Riviera Holdings Corp. intends to refinance its $215 million 11% senior secured notes due June 15, 2010 using proceeds from up to $245 million of new credit facilities, according to an 8-K filed with the Securities and Exchange Commission on Thursday.

The notes are callable at 103.667 on June 15.

The company said it obtained a commitment on April 27 from Wachovia Bank NA and Wachovia Capital Markets, LLC for a $20 million five-year revolving credit facility and a $225 million seven-year term loan facility.

Las Vegas-based Riviera owns and operates the Riviera Hotel and Casino in Las Vegas and the Riviera Black Hawk Casino in Black Hawk, Colo.

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