Jack Ohio to start roadshow on Wednesday for $1.05 billion two-part secured notes offering

By Paul A. Harris

Portland, Ore., Oct. 25 – Jack Ohio Finance LLC and its wholly owned subsidiary Jack Ohio Finance 1 Corp. plan to start a roadshow on Wednesday in New York for a $1.05 billion two-part offering of secured notes, according to a syndicate source.

The deal includes $750 million of five-year first-lien notes (B3/B+), which come with two years of call protection, and $300 million of six-year second-lien notes (Caa3/CCC), which come with three years of call protection.

The roadshow continues on Thursday in New York and New Jersey, moves to Boston on Friday, and to Los Angeles on Monday.

The Rule 144A and Regulation S for life offering is set to price thereafter.

Goldman Sachs & Co. is the left bookrunner. Credit Suisse Securities (USA) LLC, Wells Fargo Securities LLC and Deutsche Bank Securities Inc. are the joint bookrunners.

The Detroit, Mich.-based gaming company intends to use the proceeds to refinance debt and provide cash for upcoming payments, with any remaining proceeds to be used to finance ongoing working capital, capital expenditures and general corporate purposes.

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