Pinnacle Entertainment selling $800 million eight-year notes Tuesday

By Paul A. Harris

Portland, Ore., July 30 - Pinnacle Entertainment, Inc. plans to price an $800 million offering of eight-year senior notes Tuesday following a late-morning investor conference call, according to a market source.

J.P. Morgan Securities LLC, Goldman Sachs & Co., BofA Merrill Lynch, Deutsche Bank Securities Inc., Wells Fargo Securities LLC, Credit Agricole CIB, Barclays, and UBS Investment Bank are the joint bookrunners.

Fifth Third, RBS Securities Inc. and SMBC are the co-managers.

The Rule 144A and Regulation S notes come with two years of call protection.

The notes are being issued by PNK Finance Corp., a wholly owned subsidiary of Pinnacle Entertainment.

Proceeds will be used to help finance the cash consideration for the acquisition of Ameristar Casinos, Inc., to redeem Pinnacle's existing 8 5/8% senior notes due 2017, to provide working capital and for general corporate purposes.

Pinnacle Entertainment is a Las Vegas-based owner and operator of casinos. Ameristar is a Las Vegas-based casino gaming company.

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