Billionaire Fertitta’s Golden Nugget Taps Loan Market to Refinance Debt
- Move comes after parent company backed out of a SPAC merger
- The business also plans to launch a bond offering next week
Photographer: Gary Coronado/Los Angeles Times/Getty Images
This article is for subscribers only.
Billionaire Tilman Fertitta kicked off a $5.6 billion refinancing of his casino and restaurant empire, just one month after nixing plans to bring the business public through a merger with a blank-check company.
Fertitta’s Golden Nugget Inc. is tapping the leveraged loan and junk bond markets to refinance its balance sheet. The company launched a $1.85 billion seven-year loan to investors on Wednesday morning, and is expected to soon come forward with two additional bond offerings, according to a person familiar with the matter.