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Global Cash Access to redeem $82.3 million 8¾% notes as part of IPO
New York, March 23 - Global Cash Access Holdings, Inc. said it plans to redeem $82.3 million principal amount of the 8¾% senior subordinated notes due 2012 issued by Global Cash Access, Inc. with part of the proceeds of a planned initial public offering of common stock.
The Las Vegas-based provider of cash access products to the gaming industry will also pay a premium of $7.1 million for the redemption.
Other proceeds will be used to acquire a patent and for general corporate purposes.
The planned IPO is for up to $471.5 million of common stock, according to an S-1 filing with the Securities and Exchange Commission.
Bookrunners are Goldman, Sachs & Co. and JPMorgan.
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