Isle of Capri eyes $350 million eight-year notes in Thursday drive-by

By Paul A. Harris and Aleesia Forni

Columbus, Ohio, Feb. 28 - Isle of Capri Casinos, Inc. is set to price a $350 million offering of senior notes due 2021 (existing ratings B3/B) on Thursday, according to a market source.

Wells Fargo Securities LLC is the left bookrunner.

Credit Suisse Securities (USA) LLC and Deutsche Bank Securities Inc. are the joint bookrunners.

U.S. Bancorp Investments Inc. and Capital One Southcoast are the co-managers for the Rule 144A and Regulation S with registration rights deal.

The notes will be callable in three years at par plus 75% of the coupon.

Proceeds will be used to repay the company's term loans, with any remaining proceeds for general corporate purposes.

The St. Louis-based developer, owner and operator of branded gaming facilities and related lodging and entertainment facilities will hold an investor call 11:30 a.m. ET.

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