Argosy Gaming to price $350 million 10-year notes Thursday via Morgan Stanley

By Paul A. Harris

St. Louis, Feb. 4 - Argosy Gaming Co. plans to price a quick-to-market $350 million offering of 10-year senior subordinated notes (existing B2/confirmed B+) on Thursday, syndicate sources said.

The deal was marketed during a Wednesday afternoon conference call, sources added.

Morgan Stanley is the bookrunner on the Rule 144A offering. Banc of America Securities, Bear Stearns & Co., Credit Lyonnais, Deutsche Bank Securities and Wells Fargo Capital are co-managers.

The notes come with five years of call protection.

Proceeds will be used to repurchase the company's 10¾% senior subordinated notes due 2009.

The issuer is an Alton, Ill-based owner and operator of six casinos.

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