Global Cash Access starts roadshow for $235 million eight-year notes

By Paul A Harris

St. Louis, Feb. 23 - Global Cash Access LLC began a roadshow Monday for a $235 million offering of eight-year senior subordinated notes (B-), according to an informed source.

Pricing is expected mid-week during the week of March 1.

Banc of America Securities will run the books on the Rule 144A offering, which will have registration rights.

The notes will come with four years of call protection.

Proceeds will be used to finance the purchase of First Data's 67% equity interest in Global Cash Access.

Concurrent with the bond offering, the company will obtain a $280 million senior secured credit facility.

The Las Vegas-based company provides transaction-processing services and technology products that dispense cash to customers on the casino floor.

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