Century Casinos talks $170 million term B at Libor plus 500-525 bps

By Sara Rosenberg

New York, Nov. 6 – Century Casinos Inc. launched on Wednesday its $170 million seven-year covenant-lite term loan B with price talk of Libor plus 500 basis points to 525 bps with a 0% Libor floor and an original issue discount of 99, according to a market source.

The term loan has 101 soft call protection for six months, the source said.

The company’s $180 million of credit facilities also include a $10 million five-year revolver.

Macquarie Capital (USA) Inc. is the lead on the deal.

Commitments are due on Nov. 21, the source added.

Proceeds will be used to fund the acquisition of the operations of Isle Casino Cape Girardeau, Lady Luck Caruthersville and Mountaineer Casino, Racetrack and Resort from Eldorado Resorts Inc. for about $107 million.

Century Casinos is a Colorado Springs, Colo.-based international casino entertainment company.

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