ST. LOUIS, April 7, 2015 /PRNewswire/ -- Isle of Capri
Casinos, Inc. (Nasdaq: ISLE) (the "Company") announced today that
it commenced an offering of $150
million aggregate principal amount of its 5.875% Senior
Notes due 2021 (the "2021 Notes"), of which $350.0 million aggregate principal amount were
originally issued on March 5, 2013.
The additional 2021 Notes will have the same terms and be treated
as the same class as the outstanding 2021 Notes, except that the
additional 2021 Notes will be subject to transfer restrictions
until the Company consummates a registered exchange offer for the
additional 2021 Notes or they are sold pursuant to an effective
resale shelf registration statement.
The 2021 Notes are fully and unconditionally guaranteed on a
senior unsecured basis, jointly and severally, by each of the
Company's domestic subsidiaries that guarantees the Company's
senior secured credit facility. The additional 2021 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 the sale of the
additional 2021 Notes, together with borrowings under its senior
secured credit facility and cash on hand, to fund (i) the purchase
of the Company's 7.75% Senior Notes due 2019 (the "2019 Notes")
pursuant to a concurrent cash tender offer that the Company also
announced today, (ii) the redemption of any and all 2019 Notes that
remain outstanding following consummation of the tender offer and
(iii) the payment of related fees and expenses of the notes
offering and the tender offer.
The additional 2021 Notes have not been registered under the
Securities Act, any state securities laws or the securities laws of
any other jurisdiction, and until so registered, the additional
2021 Notes may not be offered or sold in the United States to, or for the account or
benefit of, any United States
person except pursuant to an exemption from the registration
requirements of the Securities Act and other applicable securities
laws.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy, nor shall there be any offer or
sale of, any security in any jurisdiction in which such offer,
solicitation, or sale would be unlawful prior to registration or
qualification under the securities laws of any such
jurisdiction.
Forward-Looking Statements
This press release may be deemed to contain forward-looking
statements, which are subject to change. These forward-looking
statements may be significantly impacted, either positively or
negatively, by various factors, including, without limitation,
licensing and other regulatory approvals, financing sources,
development and construction activities, costs and delays, weather,
permits, competition and business conditions in the gaming
industry. The forward-looking statements are subject to numerous
risks and uncertainties that could cause actual results to differ
materially from those expressed in or implied by the statements
herein.
Additional information concerning potential factors that could
affect the Company's financial condition, results of operations and
expansion projects is included in the filings of the Company with
the Securities and Exchange Commission, including, but not limited
to, its Form 10-K for the most recently ended fiscal year.
Contacts
For Isle of Capri Casinos, Inc.
Eric L. Hausler, Chief Financial
Officer- 314.813.9205
Jill Alexander, Senior Director
Corporate Communication-314.813.9368
http://www.islecorp.com
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SOURCE Isle of Capri Casinos, Inc.