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Riviera Holdings Seeks $245M in Credit Facilities

LAS VEGAS-The publicly held casino-resort operator retains Wachovia Bank to market and syndicate $245 million of new debt to refinance $215 million of notes coming due in 2010.

By Brian K. Miller | Updated on April 30, 2007

(Read more on the debt and equity markets.)

LAS VEGAS-Locally based Riviera Holdings Corp. has retained Wachovia Bank to market and syndicate up to $245 million of senior secured credit facilities. The public casino operator says the facilities would be comprised of a new $20-million, five-year revolving credit facility and a new $225-million, seven-year term loan facility.

Substantially all of the outstanding principal amount of the term loan would mature in the seventh year of the term. Riviera would be permitted to prepay the facilities without premium or penalties, subject to any arrangements Riviera may enter into related to any Libor-based loan.

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