By Paul A. Harris
St. Louis, Mo., June 19 - Riviera Holdings Corp. slightly upsized to $215 million from $210 million its offering of senior secured notes due June 15, 2010 (B2/B+) and priced them at 98.50 to yield 11.289%, a syndicate source told Prospect News.
Price talk was 11%-11¼%.
Jefferies & Co. ran the books on the Rule 144A deal.
Proceeds will be used to defease Riviera Holdings Corp.'s 10% first mortgage notes due 2004 and call Riviera Black Hawk Inc.'s 13% first mortgage notes due 2005.
The issuer is a Las Vegas-based gaming firm.
Issuer: Riviera Holdings Corp.
Amount: $215 million (increased from $210 million)
Maturity: June 15, 2010
Type: Senior secured notes
Bookrunner: Jefferies & Co.
Coupon: 11%
Price: 98.50
Yield: 11.289%
Price talk: 11%-11¼%
Call features: Callable on June 15, 2006 at 105.5, 103.667, 101.833, par on June 15, 2009 and thereafter
Equity clawback: Until June 15, 2005 for 35% at 111.00
Settlement date: June 26, 2002
Ratings: Moody's: B2
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