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Bally’s gets needed consents to amend 6¾% notes due 2027
By Taylor Fox
New York, Feb. 4 – Bally’s Corp. announced it received the necessary consents to amend the indenture governing its $525 million outstanding 6¾% senior notes due 2027 (Cusip: 90171VAA3), according to a news release.
The consent solicitation expired at 5 p.m. ET Feb. 3, and consents had been delivered for 99.58% of the notes. The company entered a fourth supplemental indenture on Wednesday reflecting the amendment.
As previously reported, the company sought to modify the incurrence of indebtedness and issuance of subsidiary preferred stock covenant to increase the fixed dollar prong of the credit facility basket to $975 million from $745 million.
Adoption of the proposed amendment required the consent of holders of a majority in principal amount of the $525 million notes outstanding as of the record date of Jan. 27.
Holders who delivered consents prior to the expiration time will receive $10 in cash per $1,000 of notes.
Deutsche Bank Securities Inc. (855 287-1922, 212 250-7527) is the solicitation agent, and D.F. King & Co., Inc. (212 269-5550, 866 796-7186) is the information and tabulation agent.
Bally’s is a casino management company based in Lincoln, RI.
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