| Add to balance / Manage account | User: | Log out |
| Prospect News home > News index > List of issuers T > Headlines for Tenders 2004 > News item |
Station Casinos ups payment in tender for 9 7/8% notes
New York, Feb. 18 - Station Casinos Inc. increased the payment on offer in its cash tender offer and consent solicitation for any and all its $375 million principal amount of 9 7/8% senior subordinated notes due 2010.
Station is now offering $1,137.50 per $1,000 principal amount for holders who tender by the consent deadline of 5 p.m. ET Feb. 20. The sum includes a $30 per $1,000 consent payment. The total is increased from $1,133.47 per $1,000 principal amount.
Station will pay $1,107.50 per $1,000 principal amount for notes tendered after the consent deadline but before the expiration date of midnight ET March 5. The figure is increased from $1,103.47 per $1,000 principal amount.
The company said all other terms remain unchanged. Holders who have already tendered do not need to retender.
In both cases holders will receive accrued interest up to but not including the date of payment.
Station Casinos said on Feb. 6 it had begun a cash tender offer and consent solicitation for any and all of its 9 7/8% notes.
Holders who tender will be required to consent to proposed amendments to the note indenture that will eliminate substantially all of the restrictive covenants. Consents may not be given without tendering.
The tender is subject to conditions including the receipt of tenders for a majority of the principal amount of the notes and senior subordinated financing on terms acceptable to the company.
Banc of America Securities LLC (call Yield Special Products at 888 292-0070 or collect at 704 388-4813) is the dealer manager and solicitation agent. D.F. King & Co. Inc. (800 628-8532 or collect at 212 269-5550) is the information agent.
© 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.