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Yonkers Racing begins tender offer, consent bid for 11 3/8% notes
By Angela McDaniels
Tacoma, Wash., Aug. 5 - Yonkers Racing Corp. began a tender offer and consent solicitation for its $302.5 million of 11 3/8% senior secured notes due 2016.
The payment on offer is $1,061.88 per $1,000 principal amount of notes. This includes an early consent payment of $5.00 for each $1,000 principal amount of notes tendered by 5 p.m. ET on Aug. 16.
The tender offer will expire at 11:59 p.m. ET on Aug. 30.
The dealer manager and solicitation agent is J.P. Morgan Securities LLC. The information agent is i-Deal LLC (888 593-9546; attn: Aaron Dougherty).
The horse racing and gaming company is based in Yonkers, N.Y.
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