Affinity Gaming to price $70 million tap of 6 7/8% notes due 2027 in Monday drive-by

By Paul A. Harris

Portland, Ore., April 19 – Affinity Gaming plans to price a $70 million add-on to its 6 7/8% senior secured notes due Dec. 15, 2027 (existing ratings B3/B-) in a Monday drive-by trailing a conference call with investors, according to market sources.

Initial price talk is in the 104 area, a trader said.

Goldman Sachs & Co. LLC is the left bookrunner for the Rule 144A and Regulation S for life add-on. Deutsche Bank Securities Inc., Credit Suisse Securities (USA) LLC, Citizens Capital Markets Inc. and Macquarie Capital (USA) Inc. are the joint bookrunners.

The notes become callable after Dec. 15, 2023 at 103.438.

The Paradise, Nev.-based casino operator plans to use the proceeds plus cash on hand for general corporate purposes, including working capital, capital expenditures and permitted acquisitions.

The original $475 million issue priced in December 2020.

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