Centaur seeks $760 million credit facility

By Sara Rosenberg

New York, Oct. 9 - Centaur LLC is currently in market with a $760 million credit facility, according to a market source.

Credit Suisse is the lead bank on the deal that launched with a bank meeting on Thursday.

The facility consists of a $25 million revolver (B1/BB-) talked at Libor plus 400 basis points, a $50 million letter-of-credit facility (B1/BB-) talked at Libor plus 400 bps, a $100 million delayed-draw term loan (B1/BB-) talked at Libor plus 400 bps, a $455 million funded first-lien term loan (B1/BB-) talked at Libor plus 400 bps and a $130 million six-year second-lien term loan (Caa1/CCC+) talked at Libor plus 800 bps, the source said.

The first- and second-lien bank debt are being offered to investors with an original issue discount of 98, the source added.

Proceeds will be used to fund the development of racino facilities in greater Indianapolis and Western, Pa.

Centaur is an Indiana-based gaming and horseracing company.

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