Senior notes yield 6.875% and are due 2023
Boyd Gaming completes upsized bond sale
Initially planned as a USD 500M offering, Boyd Gaming (BYD) sold USD 750M in bonds Thursday.
2015-05-11
Reading time 24 seg
Initially planned as a USD 500M offering, Boyd Gaming (BYD) sold USD 750M in bonds Thursday.
The senior notes yield 6.875% and are due 2023. It was the company’s first deal in three years, according to S&P Capital IQ LCD.
Proceeds are being used to refund the company’s 9.125% notes due 2018 and pay additional revolving debt.
Boyd announced Thursday that it is offering to redeem or tender for cash all of its $500 million outstanding 2018 9.125% notes on June 8. Boyd Gaming operates casinos in 15 different U.S. markets. Its 50% owner of the Borgata casino in Atlantic City, New Jersey.
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