Pinnacle calls all $450 million 8 5/8% notes due 2017 for redemption

By Toni Weeks

San Luis Obispo, Calif., Aug. 5 - Pinnacle Entertainment, Inc. said it will redeem its $450 million of 8 5/8% senior notes due 2017 on Aug. 17 using proceeds from a new notes offering and an amended and restated credit facility.

The notes will be redeemed at 104.313 plus accrued interest to the redemption date.

Bank of New York Mellon Trust Co., NA is the trustee.

According to the filing, the amended credit agreement will be entered into upon closing of Pinnacle's pending acquisition of Ameristar Casinos, Inc.

Pinnacle will also use the proceeds of the notes offering and the amended credit facility to finance the cash payment for the acquisition, related fees and expenses, working capital and general corporate purposes.

Pinnacle Entertainment is a Las Vegas-based owner and operator of casinos. Ameristar is a Las Vegas-based casino gaming company.

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