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StumbleBrief: Two gaming firms sell debt
Monday, Dec. 7, 1998 | 11:35 a.m.
On Wednesday, Harrah's will sell $750 million of 7.875 percent senior subordinated notes due 2005 to a syndicate headed by lead underwriter Morgan Stanley Dean Witter.
Proceeds will be used to reduce outstanding debt issued under Harrah's $2.05 billion credit facility, the company said in statement filed today with the Securities & Exchange Commission.
On Friday, Station sold $199.9 million of 8.875 percent senior subordinated notes due 2008. Today, the company filed an SEC statement calling for a Jan. 4, 1999, redemption of $193 million of 9.625 percent senior subordinated notes originally due in 2003.
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