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Lowen Play talks €350 million five-year notes to yield 5¼%-5½%
By Paul A. Harris
Portland, Ore., Nov. 30 – Lowen Play GmbH talked its €350 million offering of five-year senior secured notes (B2/B) to yield 5¼% to 5½%, according to a market source.
The Rule 144A and Regulation S offering is set to price on Friday.
JPMorgan and ING are leading the deal.
The notes come with two years of call protection.
The issuing entity will be special purpose vehicle Safari Verwaltungs GmbH.
The Bingen am Rhein, Germany-based casino operator plans to use the proceeds to repay existing notes and shareholder loans.
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