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Ontario Gaming talks $400 million seven-year notes at 8¼% area; books close Thursday
By Paul A. Harris
Portland, Ore., July 19 – Ontario Gaming GTA LP talked its $400 million offering of seven-year senior secured notes (B2/B/B+) to yield in the 8¼% area, according to market sources.
Official talk comes tighter than the 8½% to 8¾% area early guidance.
Books close on Thursday.
The Rule 144A and Regulation S notes come with two years of call protection.
Deutsche Bank is leading the deal.
The Toronto-based gaming, entertainment and hospitality company plans to use the proceeds plus an $800 million term loan to refinance its capital structure and for general corporate purposes.
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