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Fertitta Entertainment to redeem bonds with new notes and loan
By Mary-Katherine Stinson
Lexington, Ky., Jan. 10 – Fertitta Entertainment, LLC, formerly known as Golden Nugget, LLC, will use the proceeds from a $3.7 billion note offering and borrowings under a new $1.85 billion senior secured credit facility to refinance $4.6 billion of existing debt.
Specifically, it will be used to redeem in full the company’s 6¾% senior notes due 2024 and the 8¾% senior subordinated notes due 2025 plus redemption premiums and accrued interest, to pay fees and expenses related to the transactions and for general corporate purposes.
The redemptions are conditioned on the consummation of the new note offering and certain other financing conditions.
Fertitta is a Las Vegas-based gaming and hospitality company.
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