By Paul A. Harris
St. Louis, March 25 - Diamond Jo LLC and OED Corp. sold $229.7 million proceeds of eight-year senior secured notes (B2/B+) Thursday at 98.596 with an 8¾% coupon to yield 9%, according to an informed source.
Price talk was in the area of 8 7/8%.
The face amount of the issue was $233 million.
Jefferies & Co. ran the books for the Rule 144A issue.
Proceeds will be used to repurchase debt.
The issuer is a gaming company formerly known as Peninsula Gaming Co. and The Old Evangeline Downs LLC and has headquarters in Dubuque, Iowa.
| Issuers: | Diamond Jo LLC and OED Corp.
|
| Face amount: | $233 million
|
| Proceeds: | $229.729 million
|
| Maturity: | April 15, 2012
|
| Security description: | Senior secured notes
|
| Coupon: | 8¾%
|
| Price: | 98.596
|
| Yield: | 9%
|
| Call features: | Callable on or after April 15, 2008 at 104.375, 102.917, 101.458, par on April 15, 2011 and thereafter
|
| Equity clawback: | Until April 15, 2007 for up to 35% at 108.75
|
| Pricing date: | March 25
|
| Settlement date: | April 16
|
| Ratings: | Moody's: B2
|
| Standard & Poor's: B+
|
| Price talk: | 8 7/8% area
|
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