The company hired to run OLG Casino Sault Ste. Marie is refinancing its existing secured debt in part to help purchase its new stake in several gambling sites in Ontario.
Gateway Casinos and Entertainment Ltd., said Friday the refinancing is made up of a new capital structure including $125 million Cdn senior secured revolving credit facility, $440 million US senior secured term loan facility and $255 million US second priority senior secured notes due in 2024.
Refinancing proceeds will be used to repay all outstanding amounts under Gateway’s existing senior secured credit facility, redeem the company’s outstanding 8.5 per cent second priority senior secured notes due in 2020 in the aggregate p…
Read the full article at: http://www.saultstar.com/2017/02/04/gateway-refinances-secured-debt
