Spain’s Cirsa marketing €375 million six-year PIK toggle notes

By Paul A. Harris

Portland, Ore., Sept. 23 – Grupo Cirsa will market a €375 million offering of LHMC Finco 2 six-year senior PIK toggle notes (CCC+) on a roadshow during the Sept. 23 week, according to market sources.

The notes become callable after 1.5 years at 102.

The Madrid-based gaming and leisure company plans to use the proceeds to fund a distribution to shareholders.

Blackstone Group completed its acquisition of Cirsa in July 2018.

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