Red Rock Resorts subsidiary sells $500 million of 6.625% senior notes due 2032
On March 14, 2024, Station Casinos LLC, a Red Rock Resorts subsidiary, issued $500 million of 6.625% senior notes due 2032 and entered into an amended and restated credit agreement with a new $1,570.0 million term B loan and a $1,100.0 million revolving credit facility. The company said it will use the proceeds, together with term loan borrowings and $200.0 million drawn on the revolver, to refinance its existing 2016 credit agreement and pay related fees and costs. The filing shows the transaction adds to the company's debt load, with the new loans maturing in 2029 and 2031 and the notes in 2032.
- $500 million of 6.625% senior notes due 2032 issued March 14, 2024; interest is paid each March 15 and September 15, starting September 15, 2024.
- New $1,570.0 million term B loan maturing March 14, 2031, and $1,100.0 million revolving credit facility maturing March 14, 2029.
- Proceeds and $200.0 million of revolver borrowings are used to refinance the Existing Credit Agreement dated June 8, 2016, and for fees and general corporate purposes.