Pinnacle gets tenders for $125.47 million 8¾% notes by expiration

New York, Aug. 24 - Pinnacle Entertainment Inc. said it received tenders for $125.465 million of its 8¾% senior subordinated notes due 2013 by the expiration at 11 a.m. ET on Aug. 24.

The response was unchanged from that at the early tender deadline of midnight ET on Aug. 7.

Following the tender, there will be $9.535 million of the original $135 million of notes still outstanding.

As announced on July 27, holders were paid $1,031.67 per $1,000 principal amount of the notes, which included an early tender premium of $31.67 per note.

The tender offer is being funded with some of the proceeds from the company's recent $450 million offering of 8 5/8% senior notes due 2017.

J.P. Morgan Securities Inc. (800 245-8812) and Bank of America Merrill Lynch (888 292-0070 or collect 980 387-4536) are the dealer managers. D.F. King & Co., Inc. (800 758-5378) is the information agent.

Pinnacle Entertainment is a Las Vegas-based owner and operator of casinos.

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