Correction: W Las Vegas $260 million credit facility launch canceled

New York, Oct. 20 - W Las Vegas Hotel, Casino & Residences did not hold a bank meeting on Thursday to launch its proposed $260 million credit facility, as was previously reported by Prospect News, according to a market source.

The launch had been canceled so that the company could evaluate other refinancing alternatives, the source said.

Credit Suisse was slated to act as the lead bank on the facility that was going to be comprised of a $175 million first-lien term loan talked at Libor plus 400 basis points and an $85 million second-lien term loan talked at Libor plus 1,000 bps.

The W Las Vegas is a joint venture between Starwood Hotels and Resorts and Edge Resorts.

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