Jacobs Entertainment starts roadshow for $340 million seven-year second-lien notes

By Paul A. Harris

Portland, Ore., Jan. 24 – Jacobs Entertainment, Inc. began a roadshow on Tuesday for a $340 million offering of seven-year second-lien senior secured notes (B2), according to a syndicate source.

The deal is set to price late in the present week.

Credit Suisse Securities (USA) LLC, Capital One Securities Inc. and Wells Fargo Securities LLC are the joint bookrunners for the Rule 144A and Regulation S for life offering.

The notes become callable after three years at par plus 75% of the coupon and feature a two-year 40% equity clawback and a 101% poison put.

The Golden, Colo.-based owner and operator of gaming properties plans to use the proceeds to retire its first- and second-lien term loans and to fund select acquisitions and development opportunities.

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