Riviera redeems 11% notes with term loan proceeds

By Susanna Moon

Chicago, June 14 - Riviera Holdings Corp. redeemed its 11% senior secured notes due 2010 totaling $215 million, according to an 8-K filing with the Securities and Exchange Commission on Thursday.

To fund the redemption Riviera used the proceeds of a $245 term loan.

In the June 8 bank deal, Wachovia Bank was the administrative agent, Wells Fargo Foothill, Inc. was the syndication agent, CIT Lending Services Corp. was documentation agent and Wachovia Capital Markets, LLC was the bookrunner.

Las Vegas-based Riviera owns and operates the Riviera Hotel and Casino in Las Vegas and the Riviera Black Hawk Casino in Black Hawk, Colo.

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