New credit facility for Isle of Capri Casinos
 July 28, 2007, 2:54 pm (1 year ago)Isle of Capri Casinos has entered a new credit facility which almost doubles its previous facility.
The new credit facility, announced Thursday, amounts to $1.35 billion, compared to the previous one, entered into in February 2005, which was worth $700 million.
In the United States, Isle of Capri owns casinos in Biloxi, Lula and Natchez, Mississippi; Lake Charles, Louisiana; Bettendorf, Davenport, Marquette and Waterloo, Iowa; Boonville, Caruthersville and Kansas City, Missouri and a harness track in Pompano Beach, Florida. The company, which also operates these casinos, was founded in 1992.
Elsewhere, it owns casinos in Coventry, England and Freeport, Grand Bahama, as well as having interests in casinos in Wolverhampton and Dudley in England.
Isle of Capri’s new credit facility consists of a $475 million five-year revolving credit facility, that is due to mature on July 26, 2012 and an $875 million term loan facility, which is due to mature on November 25, 2013.
The latter is made up of a $500 million senior secured loan facility which was drawn at closing, a $200 million senior secured delayed draw.
The company is now believed to be eligible for listing on the NASDAQ Global Select Market.
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