Bally's rolls the dice in US junk bond market

摘要

Gaming company BALLY'S came to the US corporate bond market with the second-biggest Triple C rated deal this year, offering investors a rare chance to scoop up juicy casino paper. Alongside an upsized US$1.95bn term loan B, the company was expected on Friday to price a US$1.5bn senior unsecured offering made up of an eight-year non-call three note and a 10-year non-call five portion to pay for its US$2.7bn acquisition of UK online gambling operator Gamesys. Leads downsized the unsecured notes by US$500m and boosted the size of the term loan by the same amount, keeping the overall size of the financing package intact.