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Boyd Gaming Completes New Credit Facility27 June 2002LAS VEGAS – (Press Release) --Boyd Gaming Corporation (NYSE: BYD) today announced that the Company has completed and funded its new $500 million credit facility with its banks and a group of institutional lenders. The new facility, which consists of a $400 million five-year revolving credit facility and a $100 million six-year term facility, replaces the Company's 1999 credit facility that was maturing next June. Following this transaction, the Company has essentially no required principal payments on its debt until 2007, except for its $200 million of 91/4% notes due in 2003, the refunding of which has been provided for in the new credit facility. CIBC World Markets acted as the lead arranger in the transaction and is serving as the administrative agent under the credit facility. The other agents in the transaction are Bank of America, Credit Lyonnais, Deutsche Bank and Wells Fargo. |