Cirsa to price €50 million 8¾% notes add-on

By Paul A. Harris

St. Louis, Sept. 10 - Cirsa Finance Luxembourg SA, a subsidiary of Cirsa Business Corp. SA, is expected to price a €50 million add-on to its 8¾% senior notes due May 15, 2014, according to market sources.

One source in Europe told Prospect News Friday that the deal is expected to price in the very near future.

Deutsche Bank Securities is the bookrunner.

The notes are callable after May 15, 2009 at 104.375, with the call premium declining annually thereafter to 102.917, 101.458 and to par. The notes also contain an equity clawback until May 15, 2007 for 35% at 108.75.

The original €210 million offering priced at par on May 6.

Cirsa is a Spain-based leisure and gaming company.

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