ST. LOUIS, July 24, 2012 /PRNewswire/ -- Isle of Capri
Casinos, Inc. (Nasdaq: ISLE) (the "Company") announced today the
pricing of $350 million in aggregate
principal amount of 8.875% Senior Subordinated Notes due 2020 (the
"2020 Notes"). The 2020 Notes will be issued at par. The offering
is scheduled to close on August 7,
2012, subject to customary closing conditions. 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, commenced 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.