International Speedway Announces Completed Redemption of $225 Million 7.875 Percent Senior Notes Due 2004
June 02 2004 - 5:16PM
PR Newswire (US)
International Speedway Announces Completed Redemption of $225
Million 7.875 Percent Senior Notes Due 2004 DAYTONA BEACH, Fla.,
June 2 /PRNewswire-FirstCall/ -- International Speedway Corporation
("ISC") (NASDAQ:ISCA) (OTC:ISCB) (BULLETIN BOARD: ISCB) today
announced that it has completed the redemption of its $225 million
principal amount 7.875 percent Senior Notes due October 15, 2004.
The redemption date was May 28, 2004. The redemption was funded by
the issue on April 23, 2004 of $150 million 4.20 percent Senior
Notes due 2009, and $150 million 5.40 percent Senior Notes due 2014
(collectively the "New Notes"). The New Notes have not been
registered under the Securities Act of 1933 or any securities laws
of any state or other jurisdiction and may not be offered or sold
in the United States or any state or other jurisdiction absent
registration or an applicable exemption from registration
requirements. This announcement is neither an offer to sell nor a
solicitation of an offer to buy the New Notes. International
Speedway Corporation is a leading promoter of motorsports
activities in the United States, currently promoting more than 100
events annually. The Company owns and/or operates 12 of the
nation's major motorsports facilities, including Daytona
International Speedway in Florida (home of the Daytona 500);
Talladega Superspeedway in Alabama; Michigan International Speedway
located outside Detroit; Richmond International Raceway in
Virginia; California Speedway near Los Angeles; Kansas Speedway in
Kansas City, Kansas; Phoenix International Raceway in Arizona;
Homestead-Miami Speedway in Florida; North Carolina Speedway in
Rockingham; Darlington Raceway in South Carolina; Watkins Glen
International in New York; and Nazareth Speedway in Pennsylvania.
Other track interests include an indirect 37.5% interest in Raceway
Associates, LLC, which owns and operates Chicagoland Speedway and
Route 66 Raceway near Chicago, Illinois. The Company also owns and
operates MRN Radio, the nation's largest independent sports radio
network; DAYTONA USA, the "Ultimate Motorsports Attraction" in
Daytona Beach, Florida, the official attraction of NASCAR; and
subsidiaries which provide catering services, food and beverage
concessions, and produce and market motorsports-related merchandise
under the trade name "Americrown." For more information, visit the
Company's Web site at http://www.iscmotorsports.com/. DATASOURCE:
International Speedway Corporation CONTACT: Wes Harris, Director of
Investor Relations, International Speedway Corporation,
+1-386-947-6465 Web site: http://www.iscmotorsports.com/
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