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Downstream Development Authority’s $250 million six-year notes whispered at 9½%-9¾% yield
By Paul A. Harris
Portland, Ore., Dec. 5 – Downstream Development Authority gave initial yield guidance for its $250 million offering of six-year senior secured notes of 9½% to 9¾%, according to a market source.
The deal is expected to price before the end of the present week.
Nomura Securities Co. Ltd. is the bookrunner.
The notes come with three years of call protection.
The issuing authority of the gaming concern of the Quapaw Tribe of Quapaw, Okla., plans to use the proceeds to refinance debt.
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