Ameristar Casinos Inc. (ASCA) announced that it has extended the maturity date of $600 million of revolving loan commitments under its senior secured credit facility from November 10, 2010 to August 10, 2012. In connection with obtaining the extensions, the company paid the joint lead arrangers and extending lenders approximately $6.7 million in one-time fees.
Gordon Kanofsky, the company's Chief Executive Officer, said, "This 21-month extension of the maturity date of 80% of our revolving loan commitments, coupled with our issuance last May of $650 million of senior unsecured notes due in June 2014, provides us with the flexibility to continue to successfully operate our business and defer the complete refinancing of our bank credit facilities in these difficult economic times".
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