Aztar gets new $675 million credit facility

By Sara Rosenberg

New York, July 22 - Aztar Corp. closed on a new $675 million senior secured credit facility. Bank of America is administrative agent for the facility and Banc of America Securities LLC and Deutsche Bank Trust Co. Americas acted as joint lead arrangers and joint book managers, according to a company news release.

The facility consists of a $550 million five-year revolver and a $125 million five-year term loan.

Proceeds were used to replace various previously outstanding facilities and will also be used to provide additional capital resources.

Aztar is a Phoenix developer and operator of casinos.

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