Great Canadian Gaming calls C$450 million 6 5/8% notes due 2022

By Wendy Van Sickle

Columbus, Ohio, Nov. 5 – Great Canadian Gaming Corp. called its C$450 million of 6 5/8% senior notes due 2022 for redemption on Dec. 11.

The notes will be redeemed for a total price of C$471.3 million, which includes a C$9.9 million early redemption premium and C$11.4 million of interest, according to a news release.

The company plans to use proceeds from a newly refinanced C$350 million term loan and C$400 million revolving credit facility as well as cash reserves to fund the redemption.

Great Canadian Gaming operates gaming, entertainment and hospitality facilities and is based in Richmond, B.C.

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