HOUSTON, Jan. 12, 2022 /PRNewswire/ — Fertitta Leisure, LLC (f/okay/a Golden Nugget, LLC) (“Fertitta Leisure”) introduced as we speak that it has priced an providing of $2.25 billion mixture principal quantity of senior notes, comprised of $1.0 billion mixture principal quantity of 4.625% senior secured notes due 2029 (the “Senior Secured Notes”) and $1.25 billion mixture principal quantity of 6.750% senior notes due 2030 (the “Senior Notes” and along with the Senior Secured Notes, the “notes”). The notes had been supplied to certified institutional patrons pursuant to Rule 144A underneath the Securities Act of 1933, as amended (the “Securities Act”), and outdoors the USA pursuant to Regulation S underneath the Securities Act. The closing of the providing is anticipated to happen on January 27, 2022, and is topic to customary circumstances.
The gross proceeds of the providing and borrowings underneath a brand new $3.3 billion senior secured credit score facility with curiosity at SOFR plus 4.0%, topic to a .50% flooring, can be used to refinance roughly $4.6 billion of current indebtedness, together with redeeming all of Fertitta Leisure’s current 6.750% Senior Notes due 2024 (the “Present Senior Notes”) and current 8.750% Senior Subordinated Notes due 2025 (the “Present Senior Subordinated Notes”), plus redemption premiums and accrued and unpaid curiosity thereon, to pay charges and bills associated to the transactions and for basic company functions. Nothing on this press launch needs to be construed as a suggestion to buy, discover of redemption or a solicitation of a suggestion to buy any of the Present Senior Notes and/or any of the Present Senior Subordinated Notes, and the closing of this providing just isn’t conditioned on the consummation of such redemptions; nonetheless, the redemptions of the Present Senior Notes and the Present Senior Subordinated Notes are conditioned on the consummation of this providing and sure different financing transactions.
The securities haven’t been registered underneath the Securities Act or any state securities legal guidelines and will not be supplied or offered in the USA absent registration or an relevant exemption from the registration necessities of the Securities Act and relevant state legal guidelines. This press launch doesn’t represent a suggestion to promote or the solicitation of a suggestion to purchase the notes, nor shall it represent a suggestion, solicitation or sale in any jurisdiction through which such supply, solicitation or sale is illegal. Any supply of the securities can be made solely via a personal providing memorandum.
This press launch incorporates forward-looking statements relating to Fertitta Leisure’s intention to subject the notes and its supposed use of the ensuing proceeds therefrom. There isn’t any assurance that Fertitta Leisure will efficiently full the proposed providing, enter into the brand new credit score services or use the proceeds as presently supposed. Traders mustn’t place undue reliance on forward-looking statements as predictions of future outcomes. Fertitta Leisure undertakes no obligation to replace or revise any forward-looking statements to mirror developments or data obtained after the date of this press launch.
About Fertitta Leisure, LLC
Fertitta Leisure, LLC (f/okay/a Golden Nugget, LLC), which is not directly wholly-owned by Tilman J. Fertitta, by means of subsidiaries and associates, is a multinational, diversified gaming, restaurant, hospitality, and leisure firm based mostly in Houston, Texas. Fertitta Leisure’s gaming division consists of the famend Golden Nugget Resort and On line casino idea, with areas in Las Vegas and Laughlin, NV; Atlantic Metropolis, NJ; Biloxi, MS; and Lake Charles, LA. Fertitta Leisure’s leisure and hospitality divisions embody widespread locations together with the Kemah Boardwalk. Fertitta Leisure additionally operates greater than 500 shops, together with over 400 high-end and informal eating institutions all over the world, with well-known ideas akin to Del Frisco’s, Landry’s Seafood Home, Bubba Gump Shrimp Co., Rainforest Cafe, Morton’s The Steakhouse, The Oceanaire Seafood Room, McCormick & Schmick’s Seafood, Chart Home, Joe’s Crab Shack, Saltgrass Steak Home and Catch. Landry’s additionally operates the favored New York BR Visitor Eating places akin to Dos Caminos, Strip Home and Invoice’s Bar & Burger.
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SOURCE Fertitta Leisure, LLC