By Paul A. Harris
Portland, Ore., Dec. 17 - River Cree Enterprises LP priced C$200 million of 11% seven-year senior secured second-lien notes (/B+//DBRS: B (high)) at 99.981 to yield 11% on Tuesday, according to a market source.
The yield printed on top of yield talk.
TD Securities and BMO Securities were the joint bookrunners.
The Edmonton, Alta.-based gaming firm plans to use the proceeds to reclaim a minority stake in its Alberta casino from a U.S. shareholder.
| Issuer: | River Cree Enterprises LP
|
| Amount: | C$200 million
|
| Maturity: | Jan. 20, 2021
|
| Securities: | Senior secured second-lien notes
|
| Bookrunners: | TD Securities, BMO Securities
|
| Co-lead manager: | Scotia Capital
|
| Coupon: | 11%
|
| Price: | 99.981
|
| Yield: | 11%
|
| First call: | Jan. 20, 2018 at 105.5
|
| Trade date: | Dec. 17
|
| Ratings: | Standard & Poor's: B-
|
| DBRS: B (high)
|
| Distribution: | Rule 144A and Regulation S for life
|
| Price talk: | 11%
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
