Boyd Gaming Corporation has closed the previously announced offering of $700m aggregate principal amount of 6.000% senior notes due 2026. The notes will bear interest at a rate of 6.000% per annum, payable semi-annually on February 15 and August 15 of each year, commencing on August 15, 2018.   

They will mature on August 15, 2026 and are fully and unconditionally guaranteed by certain of the company’s current and future domestic restricted subsidiaries. As previously announced, the Boyd Gaming is using the net proceeds from the offering to pay down the outstanding amounts under its senior secured revolving credit facility and will retain the balance of the net proceeds as additional cash on hand or invest the balance of the net proceeds in cash equivalents and short-term marketable securities.  I

Said a statement from Boyd: “In the future, the company may use the net proceeds from the offering for working capital and general corporate purposes, which may include, without limitation, reducing or refinancing indebtedness, expansion efforts, including acquisitions of assets or businesses, and general capital expenditures.

“The notes have not been, and will not be, registered under the Securities Act of 1933, as amended, or applicable state securities laws or blue sky laws, and may not be offered or sold in the United States absent registration under the Securities Act and applicable state securities laws or available exemptions from the registration requirements. This announcement shall not constitute an offer to sell or the solicitation of an offer to buy the notes.”