By Paul A. Harris
St. Louis, April 21 - Eldorado Resorts LLC and Eldorado Capital Corp. sold $64.7 million of 10-year senior notes (expected B+), according to Bob Jones, Eldorado's chief financial officer, who added that the deal settled on Tuesday.
The Rule 144A notes, which have registration rights, priced at par to yield 9%, according to Jones, who declined to identify the bookrunner during a late Wednesday telephone conversation with Prospect News.
Proceeds along with borrowings under Resorts' senior secured credit facility will be used to redeem all of the issuers' outstanding 10½% senior subordinated notes due 2006 on May 21.
The issuer is a casino operator based in Reno, Nev.
| Issuer: | Eldorado Resorts LLC/Eldorado Capital Corp.
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| Amount: | $64.7 million
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| Maturity: | April 15, 2014
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| Security description: | Senior notes
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| Coupon: | 9%
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| Price: | Par
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| Yield: | 9%
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| Call features: | Callable after April 15, 2009 at 104.5
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| Settlement date: | April 20
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| Expected rating: | Standard & Poor's: B+
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| Distribution: | Rule 144A with registration rights
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