Pinnacle Entertainment starts roadshow Tuesday for $130 million 10-year deal

By Paul A. Harris

St. Louis, Sept 15 - Pinnacle Entertainment, Inc. begins the roadshow Tuesday for an offering of $130 million of senior subordinated notes due 2013 (CCC+), according to a syndicate source.

The deal is expected to price on Friday, the source added.

Bear Stearns & Co. is bookrunner for the off-the-shelf deal. Banc of America Securities, Lehman Brothers and SG Cowen are joint leads. CIBC World Markets and UBS Investment Bank are co-managers.

The notes will be non-callable for five years and will contain a three-year 35% equity clawback.

The Las Vegas gaming and entertainment company will use proceeds to fund its tender for $125 million of 9½% senior subordinated notes due 2007.

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