Isle of Capri Casinos, Inc. Prices Private Offering of $350 Million Aggregate
Principal Amount of 5.875% Senior Notes due 2021
ST. LOUIS, Feb. 28, 2013
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
This press release may be deemed to contain forward-looking statements, which
are subject to change. These forward-looking statements may be significantly
impacted, either positively or negatively, by various factors, including,
without limitation, licensing and other regulatory approvals, financing
sources, development and construction activities, costs and delays, weather,
permits, competition and business conditions in the gaming industry. The
forward-looking statements are subject to numerous risks and uncertainties
that could cause actual results to differ materially from those expressed in
or implied by the statements herein.
Additional information concerning potential factors that could affect the
Company's financial condition, results of operations and expansion projects is
included in the filings of the Company with the Securities and Exchange
Commission, including, but not limited to, its Form 10-K for the most recently
ended fiscal year.
For Isle of Capri Casinos, Inc.
Dale R. Black, Chief Financial Officer-314.813.9327
Jill Alexander, Senior Director Corporate Communication-314.813.9368
SOURCE Isle of Capri Casinos, Inc.
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