Twin River launches $350 million term loan B at Libor plus 300 bps

By Sara Rosenberg

New York, April 17 – Twin River Management Group Inc. launched on Wednesday its $350 million term loan B with price talk of Libor plus 300 basis points with a 0% Libor floor and an original issue discount of 99, according to a market source.

The term loan has 101 soft call protection for six months, the source said.

The company’s $600 million of credit facilities (BB) also include a $250 million revolver.

Citizens Bank and Credit Suisse Securities (USA) LLC are the leads on the deal.

Commitments are due on May 2, the source added.

Proceeds will be used with $350 million of bonds to refinance existing debt and for general corporate purposes.

Twin River is a Lincoln, R.I.-based owner and operator of casino resorts.

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