Rivers Pittsburgh to repay bank debt with revolver draw, notes sale

By Sara Rosenberg and Paul A. Harris

New York, July 11 – Rivers Pittsburgh intends repay its existing credit facility using a portion of the proceeds from a $50 million draw under its super-priority revolver, $415 million in senior secured notes and cash on hand, according to a market source.

Remaining proceeds will be used to redeem all of the company’s outstanding 2019 notes and to fund the repurchase by Pittsburgh Gaming Holdings of Holdco notes and minority interests.

Rivers Pittsburgh is a Pittsburgh-based casino operator.

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