Hard Rock Hotel to bring $140 million 10-year notes via Banc of America

By Paul A. Harris

St. Louis, May 14 - Hard Rock Hotel Inc. will market an offering of $140 million second lien notes due 2013 (B) with investor conference calls and is expected to price the deal early in the week of May 19, according to an informed source.

Banc of America Securities is the bookrunner.

The Rule 144A notes are non-callable for five years.

Proceeds will be used to repay all the company's outstanding debt including funding the tender for its $120 million of 9¼% senior subordinated notes due 2005 and to pay a $15 million dividend.

The company owns and operates the Hard Rock Hotel & Casino in Las Vegas.

© 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.