PCI Gaming to launch $185 million credit facility on Thursday

By Sara Rosenberg

New York, Jan. 9 - PCI Gaming Authority is scheduled to hold a bank meeting on Thursday to launch its proposed $185 million senior secured credit facility (B1/BB-), according to a market source.

Merrill Lynch and CIT are the lead banks on the deal.

The facility consists of a $50 million five-year delayed-draw term loan A and a $135 million six-year term loan B, the source said.

Proceeds will be used to help fund the development and construction of the Wind Creek Atmore Casino and Hotel.

PCI Gaming is an Atmore, Ala.-based casino operator.

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