| Ameristar Casinos announced that it has extended the maturity date of $600M of revolving loan commitments under its senior secured credit facility from November 10, 2010 to August 10, 2012. Based on the Company's current leverage ratio, the new 2012 revolving loan tranche, under which $514.4M of loans are currently outstanding, is priced 37.5 basis points higher than the preexisting 2010 revolving loan tranche. The $150M of non-extending revolving commitments comprising the 2010 tranche, under which $128.6M of loans are currently outstanding, remain currently priced at 287.5 basis points over LIBOR. In connection with obtaining the extensions, the Company paid the joint lead arrangers and extending lenders approximately $6.7M in one-time fees. :theflyonthewall.com |
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