ST. LOUIS, July 24, 2012 /PRNewswire/ -- Isle of Capri
Casinos, Inc. (Nasdaq: ISLE) (the "Company") announced today the
proposed issue of $350 million in
aggregate principal amount of Senior Subordinated Notes due 2020
(the "2020 Notes"). The 2020 Notes will be fully and
unconditionally guaranteed on an unsecured senior subordinated
basis, jointly and severally, by each of the Company's domestic
subsidiaries that guarantee the Company's senior secured credit
facility. The 2020 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 (i) the purchase and making of consent payments with respect
to the Company's 7% Senior Subordinated Notes due 2014 (the "2014
Notes") pursuant to the Company's tender offer and consent
solicitation, also announced today, (ii) the redemption of any and
all 2014 Notes that remain outstanding following consummation of
such tender offer and (iii) the payment of related fees and
expenses. Any remaining proceeds will be used for general
corporate purposes.
The 2020 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 2020 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.
Forward-Looking Statements
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.
Contacts
For Isle of Capri Casinos, Inc.
Dale R. Black, Chief Financial
Officer-314.813.9327
Jill Alexander, Senior
Director Corporate Communication-314.813.9368
http://www.islecorp.com
SOURCE Isle of Capri Casinos, Inc.