Pinnacle Entertainment to tender for $135 million 8¾% notes due 2013

By Susanna Moon

Chicago, July 27 - Pinnacle Entertainment Inc. said it plans to begin a cash tender offer for its $135 million of outstanding 8¾% senior subordinated notes due 2013.

Pinnacle said it will pay $1,031.67 per $1,000 principal amount of the notes, including a premium of $31.67 for notes tendered by midnight ET on Aug. 7, the early tender date.

The tender offer will expire at 11 a.m. ET on Aug. 24.

Funding for the tender offer will come from a debt financing.

J.P. Morgan Securities Inc. (800 245-8812) and Bank of America Merrill Lynch, Pierce, Fenner & Smith Inc. (888 292-0070 or collect 980 387-4536) are dealer managers. The Bank of New York Mellon Trust Co., NA is the depositary agent. D.F. King & Co., Inc. (800 758-5378) is the information agent.

Pinnacle Entertainment is a Las Vegas-based owner and operator of casinos.

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