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Isle Of Capri Casinos, Inc. Prices Private Offering Of $350 Million Aggregate Principal Amount Of 5.875% Senior Notes Due 2021

Stocks in this article: ISLE





ST. LOUIS, Feb. 28, 2013 /PRNewswire/ -- Isle of Capri Casinos, Inc. (Nasdaq: ISLE) (the "Company") announced today the pricing of $350 million in aggregate principal amount of 5.875% Senior Notes due 2021 (the "Notes"). The Notes will be issued at par. The offering is scheduled to close on March 5, 2013, subject to customary closing conditions.  The Notes will be fully and unconditionally guaranteed on an unsecured senior basis, jointly and severally, by each of the Company's subsidiaries that guarantee the Company's senior secured credit facility. The 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 this offering, together with cash on hand, to fund the repayment of a portion of the term loans outstanding under its senior secured credit facility.  Any remaining proceeds will be used for general corporate purposes.

The Notes have not been registered under the Securities Act, any other federal securities laws or the securities laws of any jurisdiction, and until so registered, the 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.

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