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Station Casinos Completes New Bank Facility19 September 2002LAS VEGAS – (Press Release) -- Station Casinos, Inc. (NYSE: STN) today announced that it had completed its new $365 million revolving bank facility (the "Bank Facility"), which refinances its $234.8 million reducing revolving credit facility. The Bank Facility was arranged by Banc of America Securities, LLC, with agent banks, Bank of America, Bank of Scotland, Deutchebank, Dresdner Bank, Lehman Commercial Paper and Wells Fargo Bank. The Bank Facility contains no principal amortization and matures in September 2008. The Bank Facility also contains certain financial covenants including a maximum funded debt to EBITDA ratio, a minimum fixed charge coverage ratio, limits on capital expenditures and investments, limits on indebtedness and a maximum basket for the repurchase of equity securities. Station Casinos, Inc. is the leading provider of gaming and entertainment to the residents of Las Vegas, Nevada. Station's properties are regional entertainment destinations and include various amenities, including numerous restaurants, entertainment venues, movie theaters, bowling and convention/banquet space, as well as traditional casino gaming offerings such as video poker, slot machines, table games, bingo and race and sports wagering. Station owns and operates Palace Station Hotel & Casino, Boulder Station Hotel & Casino, Santa Fe Station Hotel & Casino and Wild Wild West Gambling Hall & Hotel in Las Vegas, Nevada, Texas Station Gambling Hall & Hotel and Fiesta Rancho Casino Hotel in North Las Vegas, Nevada, and Sunset Station Hotel & Casino and Fiesta Henderson Casino Hotel (formerly The Reserve) in Henderson, Nevada. Station also owns a 50 percent interest in both Barley's Casino & Brewing Company and Green Valley Ranch Station Casino in Henderson, Nevada. |