Print
E-mail
Share
digg
Newsvine
Facebook
Stumble
Technorati
reddit
Fark
twitterBrief: Hilton spinoff starts debt buyback
Tuesday, Nov. 10, 1998 | 2:12 a.m.
The purchase price for each $1,000 principal amount of notes will be based on a formula tied to the yield on a U.S. Treasury note as of Nov. 30. Based on a recent yield, the price would be $1,090.11, including a $15 fee for allowing Park Place to amend some indentures to the notes, but excluding accrued and unpaid interest.
The tender offer, which expires Dec. 9, is part of the refinancing related to Grand's pending merger with a wholly owned subsidiary of Park Place. Park Place will acquire Grand's three Mississippi casinos, but not its Indian management contracts, which will be spun off into a separate company called Lakes Gaming.
The merger will follow a split of Hilton into separate lodging and gaming companies.
archive
- Most Read
- Discussed
- Most E-mailed
- CityCenter’s Mandarin Oriental makes Vegas debut
- As national jobless rate improves, LV sees signs of trouble
- Pacquiao-Mayweather fight on, March date likely
- Court upholds sex conviction for Las Vegas magician
- Barrick Gold to work on mine despite court ruling
- UNLV president denies reports of Livengood as new AD
- From Eva Longoria Parker to a cluster of execs, crowd takes a shine to Crystals
- Survey ranks Nevada among most unhappy states
- Rebels try to avoid the ‘trap’ at Santa Clara
- TUF 10 weigh-in: All fighters make weight, no Rampage
Blogs
Elsewhere
Dawn Gibbons' story: Nevada's first lady talks about her divorce, humiliation and fears (3 Comments)
The Kats Report
Kirk Kerkorian: CityCenter is 'simply the most amazing' Vegas project ever (3 Comments)
Robin Leach's Las Vegas Celebrity Watch
Great Santa Run: Unofficial 14,595 runners would be a new record
Elsewhere
Rampage Jackson to return to UFC (3 Comments)
Politics: Ralston's Flash
Superintendents want state to immediately seek Race to Top funds (1 Comment)
Top Chef: Las Vegas
The Jet Stream: The great Jennifer debate (2 Comments)
The Kats Report
From Eva Longoria Parker to a cluster of execs, crowd takes a shine to Crystals (7 Comments)
Calendar »
- 6 Sun
- 7 Mon
- 8 Tue
- 9 Wed
- 10 Thu
-
Rock 'n' Roll Marathon
The Strip | 5:30 a.m. to 11 a.m.
-
George Strait and Reba McIntire at the MGM Grand Garden Arena
MGM Grand Garden Arena | 8 p.m. to 11 p.m.
-
Randy Travis at the Monte Carlo
Monte Carlo Resort and Casino | 9:30 p.m. to 11:59 p.m.
-
Lee Greenwood at The Orleans
The Orleans Showroom | 8 p.m. to 10 p.m.
-
The LoneStarlets at The Golden Nugget
Golden Nugget Hotel & Casino
-
Isaias Hiram Urrabazo in "A Sunday Afternoon with Friends"
Trinity International School | 2:30 p.m. to 5 p.m.
The Sun
Locally owned and independent for more than 50 years.
