Pinnacle Entertainment plans to sell $100 million tap of 5 5/8% notes due 2024 in Thursday drive-by

By Paul A. Harris

Portland, Ore., Oct. 6 – Pinnacle Entertainment, Inc. plans to price a $100 million add-on to its 5 5/8% senior notes due May 1, 2024 on Thursday, according to a market source.

J.P. Morgan Securities LLC is leading the Rule 144A and Regulation S offering.

The notes feature a make-whole call at Treasuries plus 50 basis points until May 1, 2019, then become callable at 104.219.

The Las Vegas-based gaming company plans to use the proceeds to pay down its revolving credit facility.

The original $375 million issue priced at par on April 12, 2016.

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