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Isle of Capri gets tenders for $252.91 million 5 7/8% notes so far
By Angela McDaniels
Tacoma, Wash., May 1 – Isle of Capri Casinos, Inc. had received tenders for $252.91 million principal amount, or 56.2%, of its $450 million 5 7/8% senior notes due 2021 as of 5 p.m. ET on April 28, according to a company news release.
On May 1, the company purchased all of the early tendered notes. Holders received $1,031.88 per $1,000 principal amount of notes, which included an early tender payment of $2.50, and accrued interest up to but excluding the payment date.
The tender offer will remain open until 11:59 p.m. ET on May 12.
Holders who tender after the early tender date, 5 p.m. ET on April 28, will receive $1,029.38 per $1,000 principal amount of notes plus accrued interest.
The settlement date for notes tendered after the early tender date will be May 15.
The tender is contingent on closing of the merger with Eagle I Acquisition Corp., a wholly owned subsidiary of Eldorado Resorts, Inc.
J.P. Morgan Securities LLC (212 834-4811 or 866 834-4666) is the dealer manager. D.F. King & Co., Inc. (866 530-8636, 212 269-5550 or isle@dfking.com) is the information agent.
Isle of Capri is a St. Louis-based gaming and entertainment company.
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