Jacobs Entertainment to launch $217 million term loan on Wednesday

By Sara Rosenberg

New York, March 11 - Jacobs Entertainment Inc. will hold a call at 4 p.m. ET on Wednesday to launch a $217 million first-lien term loan due October 2018, according to a market source.

Credit Suisse Securities (USA) LLC is the lead bank on the deal.

The term loan is talked at Libor plus 425 basis points with a 1% Libor floor and a par offer price, the source said.

Included in the term loan is 101 soft call protection for one year and maximum leverage and minimum interest coverage ratios.

Proceeds will be used to reprice an existing term loan from Libor plus 500 bps with a 1.25% Libor floor.

Commitments are due on March 19, the source added.

Jacobs Entertainment is a Golden, Colo.-based owner and operator of gaming properties.

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