Peninsula Pacific sets Thursday morning investor call to launch $300 million tap of 8½% notes

By Paul A. Harris

Portland, Ore., April 7 – Peninsula Pacific Entertainment LLC and Peninsula Pacific Entertainment Finance Inc. scheduled an investor conference call at 10:30 a.m. ET on Thursday for a proposed $300 million tap of their 8½% senior notes due Nov. 15, 2027, according to a syndicate source.

The Rule 144A and Regulation S deal is set to price Friday.

Credit Suisse Securities (USA) LLC is the left bookrunner. J.P. Morgan Securities LLC and Macquarie are the joint bookrunners. RICEVO is the co-manager.

The notes become callable on Nov. 15, 2023 at 104.25

Proceeds will be used to facilitate the contribution of del Lago Casino & Hotel into Peninsula Pacific Entertainment by refinancing existing debt at Lago.

The prospective issuer owns gaming and racing facilities in Virginia and Iowa.

The original $475 million issue priced in October 2020.

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