E-mail us: service@prospectnews.com Or call: 212 374 2800
Bank Loans - CLOs - Convertibles - Distressed Debt - Emerging Markets
Green Finance - High Yield - Investment Grade - Liability Management
Preferreds - Private Placements - Structured Products
 
Published on 5/12/2017 in the Prospect News Bank Loan Daily.

Yonkers Racing to launch $260 million term loan B on Monday

By Sara Rosenberg

New York, May 12 – Yonkers Racing Corp. will hold a lender call on Monday to launch a $260 million seven-year first-lien term loan B (B1/B+), according to a market source.

J.P. Morgan Securities LLC is the lead bank on the deal.

Price talk on the term loan is Libor plus 325 basis points to 350 bps with a 1% Libor floor and an original issue discount of 99.5 to 99.75, the source said.

Included in the term loan is 101 soft call protection for six months.

Proceeds will be used to help refinance existing first-and second-lien term loans.

Yonkers Racing is an owner and operator of a gaming and entertainment facility comprised of Empire City Casino and Yonkers Raceway.


© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.