By Paul A. Harris
St. Louis, Oct. 22 - Diamond Jo Worth, LLC and Diamond Jo Worth Corp. issued a $23 million add-on to its 11% senior secured notes due 2012 to a third party investor in a private placement on Oct. 16, according to an 8-K filed on Monday with the Securities and Exchange Commission.
The add-on notes were priced at 98.50.
Proceeds will be used to finance the purchase of about $23 million of Urban Renewal Tax Increment Revenue Bonds, Taxable series 2007, issued by the city of Dubuque, Iowa.
Diamond Jo Worth also stated in the 8-K that it has obtained the consents for the add-on from holders of the existing notes.
The company also amended its credit agreement with American Trust & Savings Bank to permit the issuance of the additional notes.
Diamond Jo, formerly known as Peninsula Gaming, owns and operates the Diamond Jo riverboat casino in Dubuque, Iowa, and the Evangeline Downs "racino" development in Opelousas, La., among other properties.
| Issuer: | Diamond Jo Worth, LLC and Diamond Jo Worth Corp.
|
| Amount: | $23 million
|
| Maturity: | 2012
|
| Security description: | Add-on to 11% senior secured notes
|
| Coupon: | 11%
|
| Price: | 98.50
|
| Trade date: | Oct. 16
|
| Original issue: | $36.5 million
|
| Total issue size: | $59.5 million
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
