Key Developments: Isle of Capri Casinos Inc (ISLE.O)
7.89USD
22 May 2013
$-0.21 (-2.59%)
$8.10
$8.10
$8.21
$7.79
102,713
94,182
$8.79
$4.75
Latest Key Developments (Source: Significant Developments)
Isle of Capri Casinos Inc Prices Private Offering of $350 Million Aggregate Principal Amount of 5.875% Senior Notes due 2021
Isle of Capri Casinos Inc announced the pricing of $350 million in aggregate principal amount of 5.875% Senior Notes due 2021 (the Notes). The Notes will be issued at par. The offering is scheduled to close on March 5, 2013, subject to customary closing conditions. The Notes will be fully and unconditionally guaranteed on an unsecured senior basis, jointly and severally, by each of the Company's subsidiaries that guarantee the Company's senior secured credit facility. The Notes are being offered only to qualified institutional buyers under Rule 144A of the Securities Act of 1933, as amended (the Securities Act), and to non-U.S. persons outside of the United States in compliance with Regulation S of the Securities Act. The Company intends to use the net proceeds from this offering, together with cash on hand, to fund the repayment of a portion of the term loans outstanding under its senior secured credit facility. Any remaining proceeds will be used for general corporate purposes. Full Article
Isle of Capri Casinos Inc Commences Private Offering Of $350 Million Aggregate Principal Amount Of Senior Notes
Isle of Capri Casinos Inc announced the proposed issue of $350 million in aggregate principal amount of Senior Notes due 2021. The Notes will be fully and unconditionally guaranteed on an unsecured senior basis, jointly and severally, by each of the Company's subsidiaries that guarantee the Company's senior secured credit facility. The Notes are being offered only to qualified institutional buyers under Rule 144A of the Securities Act of 1933, as amended (the Securities Act), and to non-U.S. persons outside of the United States in compliance with Regulation S of the Securities Act. The Company intends to use the net proceeds from this offering, together with cash on hand, to fund the repayment of a portion of the term loans outstanding under senior secured credit facility. Any remaining proceeds will be used for general corporate purposes. Full Article
Isle of Capri Casinos Inc Completes Sale Of Biloxi, Miss. Property
Isle of Capri Casinos Inc announced that it completed the previously announced sale of Biloxi, Miss. property to Golden Nugget Biloxi, Inc. on November 29. Full Article
Isle of Capri Casinos Inc Sees Q2 2013 Charge Guidance
Isle of Capri Casinos Inc announced that with the August 7 completion of $350 million of 8.875% Senior Subordinated Notes offering nearest debt maturity is not until 2016. Coupled with steady de-leveraging capital structure is stronger than at any time in the last several years. As a result of this transaction, the Company expects to incur charges of approximately $3.0 million in the second quarter 2013 related to the write-off of deferred financing costs, issuance costs and other related fees. Full Article
Isle of Capri Casinos, Inc. Prices Private Offering Of $350 Million Aggregate Principal Amount Of 8.875% Senior Subordinated Notes Due 2020
Isle of Capri Casinos, Inc. announced the pricing of $350 million in aggregate principal amount of 8.875% Senior Subordinated Notes due 2020 (the 2020 Notes). The 2020 Notes will be issued at par. The offering is scheduled to close on August 7, 2012. The 2020 Notes will be fully and unconditionally guaranteed on an unsecured senior subordinated basis, jointly and severally, by each of the Company's domestic subsidiaries that guarantee the Company's senior secured credit facility. The 2020 Notes are being offered only to qualified institutional buyers under Rule 144A of the Securities Act of 1933, as amended (the Securities Act), and to non-U.S. persons outside of the United States in compliance with Regulation S of the Securities Act. The Company intends to use the net proceeds from this offering, together with cash on hand, to fund the purchase and making of consent payments with respect to the Company's 7% Senior Subordinated Notes due 2014 (the 2014 Notes) pursuant to the Company's tender offer and consent solicitation, commenced today, the redemption of any and all 2014 Notes that remain outstanding following consummation of such tender offer and (the payment of related fees and expenses. Any remaining proceeds will be used for general corporate purposes. Full Article
Isle of Capri Casinos, Inc. Enters Into Option Agreement To Sell One Of Two Lake Charles Riverboats To Paradise Casino, LLC
Isle of Capri Casinos, Inc. announced that it has entered into an Option Agreement (Agreement) with Paradise Casino, LLC (Paradise Casino) granting Paradise Casino the right to buy one of the Company's two gaming subsidiaries in Lake Charles, Louisiana. If the option is exercised and the transaction closes, Paradise Casino will acquire an entity that is licensed and owns the Crown gaming vessel, as well as the furniture, fixtures and equipment located on that vessel. The Agreement provides that the option must be exercised, if at all, no later than November 30, 2011. In the event the option is exercised, following the closing of the transaction, the Company plans to consolidate its operations in Lake Charles onto the adjacent Grand Palais gaming vessel, which is the larger of the two vessels. The Agreement provides that Paradise Casino will immediately begin the process of obtaining regulatory and other approvals including a successful referendum to relocate the facility to Bossier City, Louisiana. The financial terms of the Agreement and the purchase price have not been disclosed. Full Article
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