Fertitta Colony gets commitment for $500 million revolver for Station buyout proposal

By Sara Rosenberg

New York, Dec. 4 - Fertitta Colony Partners LLC has received a commitment for a $500 million senior secured revolving credit facility to help back its proposal to acquire Station Casinos, Inc. for $82.00 per share in cash, according to an SC 13D/A filed with the Securities and Exchange Commission Monday.

Deutsche Bank would act as the lead arranger, bookrunner and administrative agent on the revolver.

Other financing for the proposed transaction will come in the form of a $2.725 billion CMBS loan and equity.

Fertitta Colony Partners is a new company formed by Frank J. Fertitta III, chairman and chief executive officer of Station, Lorenzo J. Fertitta, vice chairman and president of Station, and Colony Capital Acquisitions, LLC.

Station's board has established a special committee of independent directors to review the proposal. No decisions have been made as of yet with respect to the Station's response to the proposal.

Station is a Las Vegas-based provider of gaming and entertainment.

© 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.