Affinity Gaming to price $475 million seven-year notes on Wednesday

By Paul A. Harris

Portland, Ore., Dec. 15 – Affinity Gaming plans to price a $475 million offering of senior secured notes due 2027 on Wednesday, according to a syndicate source.

The Rule 144A and Regulation S for life deal was scheduled to be shopped on a late Tuesday morning conference call with investors.

Goldman Sachs & Co. LLC is the left bookrunner. Deutsche Bank Securities Inc., Macquarie Capital (USA) Inc., Citizens Capital Markets Inc. and Credit Suisse Securities (USA) LLC are the joint bookrunners.

The seven-year notes become callable after three years at par plus 50% of the coupon.

The Paradise, Nev.-based casino operator plans to use the proceeds plus cash on hand to repay its existing first- and second-lien term loans and to repay $22.4 million of capital contributions that it received from Z Capital Partners earlier in 2020.

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