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French Lick issues notes29 April 2008FRENCH LICK, Indiana -- (PRESS RELEASE) -- French Lick Resorts & Casino, LLC and French Lick Resorts & Casino Corp. (the "Purchasers") today announced the results of their offer to purchase for cash up to $150,000,000 aggregate principal amount of the outstanding 10-3/4% First Mortgage Notes due 2014 (the "Notes") co-issued by the Purchasers made upon the terms and subject to the conditions set forth in the Offer to Purchase, dated March 31, 2008, and the related Letter of Transmittal, as amended by the Purchasers' press release issued on April 2, 2008 (as amended, the "Offer"). The Offer expired at midnight on April 25, 2008. The Purchasers indicated that $127,861,000 aggregate principal amount of the Notes had been validly tendered and not withdrawn pursuant to the Offer. The Purchasers have accepted for purchase and payment all of the tendered Notes. The total consideration of $800 per $1,000 principal amount of Notes will be paid in respect of all purchased Notes, representing the sum of the tender offer consideration of $780 per $1,000 principal amount of Notes and the early tender premium of $20 per $1,000 principal amount of Notes -- all of the Notes tendered in the Offer were tendered prior to the early tender time of 5:00 p.m., April 11, 2008. In addition, holders whose Notes are purchased pursuant to the Offer will receive accrued and unpaid interest on such Notes to, but not including, the date of payment for such purchased Notes, which is expected to be tomorrow, April 29, 2008. J.P. Morgan Securities Inc. acted as the Dealer Manager for the Offer and MacKenzie Partners, Inc. acted as the Information Agent and Depositary for the Offer. |