Peninsula Gaming launches $823 million term loan at Libor plus 325 bps

By Sara Rosenberg

New York, April 24 - Peninsula Gaming LLC launched its roughly $823 million term loan B on Wednesday with price talk of Libor plus 325 basis points with a 1% Libor floor and a par offer price, according to sources.

The loan has 101 soft call protection for six months.

BofA Merrill Lynch, J.P. Morgan Securities LLC and Deutsche Bank Securities Inc. are the lead banks on the deal.

Proceeds will be used to reprice an existing term loan B from Libor plus 450 bps with a 1.25% Libor floor.

Peninsula is an owner and operator of casinos and off-track betting parlors.

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