Boyd Gaming buys back $45.4 million of its 7¾% notes due 2012 with bank borrowings

By Devika Patel

Knoxville, Tenn., Aug. 11 - Boyd Gaming Corp. announced in a 10-Q filed Monday with the Securities and Exchange Commission that it purchased and retired $14.3 million of its 7¾% senior subordinated notes due December 2012 during the three months ended June 30 and $31.1 million of the notes during the six months ended June 30.

The company paid a total of approximately $13.3 million for the $14.3 million in notes and $28.9 million for the $31.1 million in notes, resulting in a net gain of approximately $800,000 and $1.8 million, respectively.

The notes were bought back with funds from the company's bank credit facility.

Boyd Gaming is a Las Vegas-based gaming company.

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