Ameristar Casinos extends consent bid to amend 7½% notes for merger

By Susanna Moon

Chicago, March 20 - Ameristar Casinos, Inc. said it extended the consent solicitation for waivers and amendments to its $1.04 billion outstanding principal amount of 7½% senior notes due 2021.

The consent solicitation will now end at 5 p.m. ET on March 27, extended from March 22, according to a company press release.

The solicitation is in connection with the proposed acquisition of Ameristar by Pinnacle Entertainment, Inc., as noted before. The solicitation began on March 18.

The company wants noteholders to waive their right to a repurchase offer triggered by the change of control due to the planned merger and waive compliance with most covenants that would be violated as a result of the merger, according to a previous 8-K filing with the Securities and Exchange Commission.

Ameristar is soliciting the consents at the request and expense of Pinnacle under their merger plan, the filing noted.

The issuer is a Las Vegas-based gaming and entertainment company.

© 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.