Boyd Gaming Corp. (BYD: Quote) said Thursday that it has priced an offering of senior notes due 2020.
The aggregate principal amount of notes to be issued in the offering increased from $300 million to $350 million. The notes will bear interest at a rate of 9% per annum, payable semi-annually on January 1 and July 1 of each year, commencing January 1, 2013.
The closing of the offering is expected to occur on June 8.
Upon the closing of the offering, the company expects to receive about $340 million in net proceeds.
The company plans to use the net proceeds from the offering to repay a portion of the outstanding revolving balance on its bank credit facility.
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by RTT Staff Writer
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