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To Repay Outstanding Loans Golden Entertainment To Issue Senior Notes Worth $375 million

To Repay Outstanding Loans Golden Entertainment To Issue Senior Notes Worth $375 million
To Repay Outstanding Loans Golden Entertainment To Issue Senior Notes Worth $375 million

In its bid to raise funds to repay the outstanding loans, Vegas-based Golden Entertainment, Inc. a popular name in the US gaming and gambling industry, will be offering senior unsecured notes worth $375 million. These unsecured senior notes will be due 2026 and will be available for purchase only to those eligible as per the Rule 144A under the Securities Act.

Golden Entertainment owns and operates casinos, taverns & distributed gaming in Southern Nevada, Montana, and Maryland.

In a release to the press the company has stated that the proceeds from the senior notes will be used to: “(i) repay all of the outstanding indebtedness under its existing Second Lien Credit Agreement, dated as of October 20, 2017, (ii) repay all of the outstanding revolving indebtedness under its existing First Lien Credit Agreement, dated as of October 20, 2017 (as amended, restated or otherwise modified from time to time, the “Existing First Lien Credit Agreement”), (iii) repay a portion of the outstanding term loan indebtedness under the Existing First Lien Credit Agreement, and (iv) pay accrued interest, fees and expenses related to each of the foregoing.”

It should be noted that the senior notes offered by Golden Entertainment are not registered under the Securities Act. The senior notes will be available to only those who are “reasonably believed to be qualified institutional buyers pursuant to Rule 144A under the Securities Act and to non-U.S. persons in transactions outside the United States pursuant to Regulation S under the Securities Act.”

The company’s shares are listed on NASDAQ stock exchange and trade with the ticker symbol GDEN. Golden Entertainment is also the largest tavern operator and largest slot route operator in Nevada.

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Cameri Ross

Cameri Ross

Cameri is an independent and self employed person, she has expertise in digital marketing and content creation for websites and blogs. Her passion is dancing and singing, especially classical singing.

She can be reached out at: cameriross@casino.buzz

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